Energy minister says government to set up new LNG terminals
The government will issue licenses for offshore hydrocarbon exploration in the next few months, federal Minister for Energy Hammad Azhar said on Wednesday.
Efforts to discover natural resources haved been accelerated, he said.
He was addressing the participants of a ceremony for awarding licenses for the exploration of oil and gas in Attock and Loralai districts under a strategy to make the country self-reliant in the energy sector, a petroleum Division news release said.
The minister said that the government was also working on setting up new terminals for import of gas.
Hammad Azhar said that companies exploring oil and gas would spend $30,000 every year in all well-drilling areas, benefitting people living nearby.
Expressing the confidence that with successful drilling and subsequent discoveries of hydrocarbon deposits, the country’s fuel import bill would be reduced, he said the government had stepped up efforts to identify and exploit untapped mineral resources in across the country.
The minister said the government would award offshore oil and gas licences in the coming few months.
He said the government was in the process of establishing new terminals for increased import of liquefied natural gas or LNG aimed at meeting the country’s ever-growing energy needs efficiently. Besides, he said, exploration activities had been initiated on war-footing to discover new oil and gas reservoirs.