The government of Pakistan has initiated the process for import of Liquefied Natural Gas (LNG) by approving $2 billion service tolling contract with Engro Vopak Terminal Limited (EVTL) for 15 years.
Bringing matters into action, a high ranking delegation led by the Petroleum minister of Pakistan, Shahid Khaqan Abbasi, has been to Qatar on December 7 to discuss the deal with the government of Qatar and the U. S based ConocoPhillips Company, which holds the exclusive rights for export of LNG in Qatar.
Pakistan is facing energy crises for the past couple of decades, and this deal will hopefully bring betterment to the situation.
The delegation moved to Iran today to discuss the details of the Pakistan-Iran Pipeline Project, which has remained suspended for a long time. A number of issues expected to come up in the Project are scheduled to be discussed. Its re-initiation reflects the seriousness of Pakistani government to resolve the energy crises.
At present, industrial sector in Pakistan is going pretty much down due to high electricity rates. Power supply to even residential sector is scarce. Unannounced power outages are a matter of real annoyance for the general population of Pakistan. Even most of the health and academic institutions possess electric generators for emergency situations.
If implemented, this project will highly support Pakistan against energy shortage. This joint venture is expected to deliver 21.5 million cubic meters of Natural Gas from Iran, an amount capable of producing 5000 megawatts of electricity.
Bringing matters into action, a high ranking delegation led by the Petroleum minister of Pakistan, Shahid Khaqan Abbasi, has been to Qatar on December 7 to discuss the deal with the government of Qatar and the U. S based ConocoPhillips Company, which holds the exclusive rights for export of LNG in Qatar.
Pakistan is facing energy crises for the past couple of decades, and this deal will hopefully bring betterment to the situation.
The delegation moved to Iran today to discuss the details of the Pakistan-Iran Pipeline Project, which has remained suspended for a long time. A number of issues expected to come up in the Project are scheduled to be discussed. Its re-initiation reflects the seriousness of Pakistani government to resolve the energy crises.
At present, industrial sector in Pakistan is going pretty much down due to high electricity rates. Power supply to even residential sector is scarce. Unannounced power outages are a matter of real annoyance for the general population of Pakistan. Even most of the health and academic institutions possess electric generators for emergency situations.
If implemented, this project will highly support Pakistan against energy shortage. This joint venture is expected to deliver 21.5 million cubic meters of Natural Gas from Iran, an amount capable of producing 5000 megawatts of electricity.
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