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Cabinet Directs Placing IP Project on Fast Track

Source: www.gulfoilandgas.com 1/11/2012, Location: Asia

The Cabinet has directed the Ministry of Petroleum and Natural Resources to undertake the Iran-Pakistan (IP) gas pipeline project on fast track basis, and reduce unaccounted for gas (UFG) losses from 12 percent to 6 percent.

The Cabinet was informed on January 3, 2012 that the current gas production in the country is over 4 billion cubic meters per day, whereas the demand is over 6 billion cubic meters, Iran's SHANA news agency reported.

The Ministry of Petroleum and Natural Resources has announced to formulate a comprehensive energy roadmap that would be finalised in six months.

Pakistan's petroleum minister Dr Asim Hussain said that the government is working on a roadmap to cater to gas shortage in the country.

He went on to say that, the work on the roadmap is in progress and expected to be completed within six months. It's worth mentioning that by endorsement of the contract between two countries (Iran and Pakistan) Iran is responsible for natural gas export to Pakistan from 2014 in amount of 21/5 million cubic meters daily, and 7/8 billion cubic meters annually.

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