Special Assistant to the Prime Minister on Petroleum Nadeem Babar said that domestic gas production in Pakistan was dropping by 5-7% yearly and the shortfall was encountered through the import of liquefied natural gas (LNG).
He made the remarks at an annual technical symposium and exhibition organised by the Society of Petroleum Engineers held at Serena hotel Islamabad. Around 30 oil and gas companies participated in the exhibition and showcased their work.
Nadeem Babar highlighted some positive initiatives that the country’s energy market would witness in the future including the award of contracts for around 35 to 40 oil and gas exploration and production blocks.
He revealed that shale gas exploration would also begin next month and encouraged the private sector to join hands with the government to ensure the energy security and prosperity of the country.
Pakistan is taking tangible steps to implement key infrastructure reforms in the oil and gas sector.
Nadeem Babar outlined the salient features of Pakistan’s energy mix and stressed the need for upgrading all the country’s refineries.
Existing technology being utilized in the country’s refineries was obsolete, rendering the refining methods outdated. They may even be closed down entirely or phased out. The government is working on setting up two new refineries and upgrading the existing ones.
Local and multinational oil and gas companies set up stalls at the exhibition for the information of participants and the general public.