Govt formulating new petroleum exploration policy to address energy crisis, says PM
- October 3, 2013, 7:32 pm
- National News
- 61 Views
ISLAMABAD Oct 3 (Online): Prime Minister Muhammad Nawaz Sharif has said the government is formulating new petroleum exploration policy as well as tight gas‚ low BTU and Shale gas policies to address the energy crisis on sustainable basis.
He expressed these views while inaugurating Latif Gas Field Khairpur on Thursday morning.
Speaking on the occasion‚ the Prime Minister said Pakistan is facing severe economic crisis and the addition of one hundred million cubic feet of gas from Latif gas field per day in the national grid will help in mitigating the gas shortage to some extent.
He expressed pleasure over the completion of this project in a short span of fifteen months.
Sharif said that addition of 360 million cubic feet of gas from Latif Garfield per day in the national grid will help in mitigating the fuel shortage to some extent.
He said Pakistan is saving billions of rupees in foreign exchange due to utilization of indigenous gas reserves.
Nawaz Sharif said the government is formulating new petroleum exploration policy as well as tight gas‚ low BTU and Shale gas policies to address the energy crisis on sustainable basis.
He expressed the confidence that these policy initiatives of the government will attract the foreign companies to invest in the very important energy sector.
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi was also present on the occasion.
The Prime Minister was briefed on the gas field project.
