Iran Gas Pipeline To Be Built Despite Foreign Pressure: Adviser

Islamabad, Dec 26, IRNA -- Pakistan's Petroleum Adviser, Dr Asim Hussain has said the Iran-Pakistan (IP) gas pipeline project will kick-off despite all foreign and domestic pressures. “We will start the project soon with the help of Iran as they have committed to provide $500 million for the project, with some technical support,” Adviser to the Prime Minister for Petroleum and Natural Resources Hussain said in Lahore. He said that reasons for the prevailing energy crisis was not mismanagement, as understood by many, but wrong political decisions of the past as equal distribution of energy resources to provinces is a must for economic and industrial growth. “Pakistan’s total gas consumption is eight billion cubic feet per day (bcfd), whereas our total production is half – only four bcfd. The shortfall will be bridged in the coming years by addition of new wells, liquefied natural gas (LNG) imports and completion of the IP gas pipeline project,” he said. The plan to bridge the shortfall through LNG imports will significantly increase the gas tariff for all consumers. The present tariff is cheap and the government is giving a subsidy of Rs300 for consumers who consume up to 300 units of gas./end