Magazine article Economic Review

Energy Demand Growth above 10 Percent

Magazine article Economic Review

Energy Demand Growth above 10 Percent

Article excerpt

"Pakistan's demand for energy is growing at rate of over 10% per annum." This was disclosed by Mr. Anwar Saifullah Khan, Federal Minister for Petroleum and Natural Resources at a seminar organized by Society of Petroleum Engineers (SPE).

After organizing three consecutive successful seminars, SPE conducted its 4th Annual Seminar on April 20 and 21 1996 at Karachi. It included presentations of technical papers, panel discussions and speeches from some of the key members of Society. The key discussions of this seminar was: (1) Major Gas Pipeline Projects for Import of Gas (2) Exploration in Less Explored Areas and Offshore Areas of Pakistan.

The main feature was the inaugural speech of Mr. Anwar Saifullah Khan, Minister of Petroleum and Natural Resources. He pointed out that energy supply and consumption are key indicators for the future development and living standard of a country. Growth of industrial production and employment opportunities are directly linked to an increasing energy demand. Pakistan's demand for energy is growing at a rate of over 10% per annum. Currently Pakistan consumes around 300,000 BOPD out of which 20% are domestic production whereas 80% are being imported for which around $2 billion in hard currency has been spent during the last fiscal year. Domestic gas production is around 1,800 MMSCFD.

Government is actively pursuing three cross border natural gas pipelines from Qatar, Iran and Turkmenistan respectively. The government's role in these multi billion dollar projects is that of a facilitator and we expect the investment to come from the private sector which has already spent considerable amounts on preliminary studies. …

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