ISLAMABAD – Special Assistant to Prime Minister (SAPM) on Petroleum NadeemBabar Friday said the government had initiated a feasibility study to setup gas storage facilities, which the country was missing for smooth supplyof the commodity during peak winter and summer seasons.
“Currently, we have the system of 5 Billion Cubic Feet (BCF) gas. Thedemand will increase to 7 BCF in next two to three years, but we have nogas storage system, which is a major problem for us,” he said whileaddressing a press conference along with Ministers for Energy, Planning andReform, Railways and SAPM on Information and Broadcasting here.
Accordingly, he said a study had already been initiated and requested theChinese government to incorporate this scheme in China Pakistan EconomicCorridor (CPEC) projects.
Commenting on the government efforts to step up oil and gas explorationactivities in potential areas of the country, the SAPM said as many as 35new exploration blocks would be awarded in next 12 months.
He said the bidding process to award 10-12 blocks would start in the comingmonth, while the same number of blocks would be offered during next summerand10-12 more in December 2020.
For the purpose, Nadeem Babar said road shows had been arranged in Canadaand America, besides “Our teams visited Russia. Now, we are planning tovisit Middle Eastern countries next week.”
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He said Chinese investors were also being attracted to participate in oiland gas exploration activities in Pakistan.
The SAPM said at present 55 percent needs of diesel and petrol were beingmet through the import of petroleum products in the finished form, while 40to 45 percent requirements were fulfilled by refining the crude oil atdomestic refineries.
Nadeem Babar said the government was encouraging establishment of newoil refineries in the country and upgrading the existing facilities toachieve self-sufficiency in the oil refining sector.
He said upgradation of Pakistan Refinery Limited (PRL) was being planned ata cost of $1 billion and invited Chinese company to participate in thisproject.
