Time­line be­ing fi­nal­ized for North-South gas pipe­line’s

The Pak Banker - - COMPANIES/BOSS -

Min­istry of Pe­tro­leum and Nat­u­ral Re­sources is in the process of fi­nal­iz­ing a time­line for con­struc­tion of the $2 bil­lion North-South gas pipe­line pro­ject to meet in­creas­ing gas de­mand of power and in­dus­trial sec­tors of the coun­try. "The time­line will hope­fully be fi­nal­ized in March and the prac­ti­cal work on the pro­ject will start sub­se­quently," of­fi­cial sources in the min­istry told APP Wed­nes­day.

They said Min­is­ter for Pe­tro­leum Shahid Khaqan Ab­basi, along with a del­e­ga­tion, had re­cently vis­ited Rus­sia and un­der­lined the need for com­ple­tion of the pro­ject at the ear­li­est. The visit was held in con­text of the re­ported in­ter­na­tional sanc­tion on a Rus­sian firm des­ig­nated to lay the pipe­line from Karachi to La­hore, they said adding "the sanc­tion is not of such a na­ture that bars the com­pany to un­der­take the pro­ject."

The Rus­sian govern­ment, they said, would di­rect the com­pany con­struct­ing the pipe­line to start con­struc­tion work as early as pos­si­ble. Dur­ing the visit, the sources in­formed that Pak­istan de­sired Rus­sian co­op­er­a­tion in con­struc­tion of Liq­ue­fied Nat­u­ral Gas (LNG) pipe­lines, oil and gas ex­plo­ration, power gen­er­a­tion and Liq­ue­fied Pe­tro­leum Gas (LPG) air-mix projects. They said both the coun­tries had signed the agree­ment on govern­ment-to­gov­ern­ment level and the pipe­line was be­ing con­structed on built op­er­ate and trans­fer (BOT) ba­sis. Un­der the pro­ject, a 1100 kilome­ter pipe­line from Karachi to La­hore with Rus­sian in­vest­ment of $2 bil­lion would be built.

They said the pro­ject was of great sig­nif­i­cance for Pak­istan as it would help sup­ply the ad­di­tional vol­ume of im­ported gas from the coun­try's South to rest of the coun­try. Due to the ef­forts of the present govern­ment, Liqui­fied Nat­u­ral Gas (LNG) ter­mi­nal was con­structed in Karachi in a record time. Past gov­ern­ments had failed to take con­crete steps for the im­port of LNG to over­come en­ergy and fuel cri­sis, they re­marked.

They said around 12.4bcm (bil­lion cu­bic me­ters) of gas would be trans­ported from Karachi to La­hore per an­num through a 42 inch di­am­e­ter pipe­line, and "the pro­ject's first phase is likely to be com­pleted by De­cem­ber 2017."

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.