New gas well discovered in Pakistan
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Gas production has commenced from newly discovered reserves. According to details, Madi Petroleum has initiated gas production from the Ghazij 2 well to Kunwari. Authorities have stated in a recent release that a daily supply of 8 MMCFD of gas is ongoing from Ghazij 2 to Sui Northern.
The officials anticipate that the supply of new gas will aid in fulfilling energy demand, reducing the gap between gas demand in winters and availability due to the addition of new gas. According to Madi Petroleum authorities, this will also contribute to saving the reserves for gas exchange.
On the other hand, with the increase in severity of winter, concerns about a gas crisis have escalated. A few days ago, the federal government announced that during the current winter season, there might be an intensified gas shortage. Therefore, residential consumers were informed of an 8-hour daily gas supply.
However, now, after the regular onset of winter in most regions of the country, when there is an increase in gas demand, there are reports that the gas crisis may become more severe than anticipated. Gas scarcity is expected to be more pronounced in December, exceeding estimates, and the crisis is expected to intensify in January 2024, reaching 470 MMCFD, compared to an estimated daily shortage of 360 million cubic feet in December 2023.
It has been stated that despite efforts, LNG cargo arrangements could not be made to reduce gas scarcity, leading to a worsening of the gas crisis. The expected unavailability of LNG from Azerbaijan in January is anticipated to further exacerbate the gas shortage. During the tenure of the Shabaz Sharif government, a contract was made with an Azerbaijani company, obligating the company to supply one LNG cargo per month.
However, according to senior officials in the Ministry of Energy, the expected shortfall in gas supply from Azerbaijan will contribute to an increase in the gas crisis.
