There has been a proposal to take advantage of locally discovered gas reserves for the production of cheap electricity in the country, the CCO of Asia-Pak Investment has said that we as IPPs are looking at the electricity situation of Pakistan. , Pakistan’s energy situation has been deteriorating for a long time, how to provide cheap electricity to consumers has to be worked out.
While giving a press conference, Shahryar Chishti said that under IPPs, we also have to provide facilities to the consumers. Liberty also shared its profits in 2021. Suggestions are going to be given.
He said that what happened in 2021 was 11% reduction in capacity payment. Various proposals were discussed with the government in 2021. The price of natural gas is getting at $10. can reduce their cost by treating this gas, we are proposing to the government to change its rate of return from dollars to Pakistani rupees.
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Chairman Asia-Pak Investment KCCO said that under the 1994 agreement, 100 percent rate of return was in dollars, it was changed in 2021, Liberty Power gives 75 percent output. In 1994, companies came to set up power plants in Pakistan. Went but no power plant came in 2015, after that power plant came in CPEC.
He further said that by talking about capacity payment, the real issue was removed, the issue is to increase demand, the real issue is fuel cost, increasing demand will reduce the price, a team to improve the energy sector of Pakistan. Must go along.
Shahryar Chishti said that it is wrong that gas reserves are decreasing in Pakistan, gas was discovered in Pakistan which is still not being used, the new reserves should be used to generate electricity. We are giving our plan to the government, we are giving our share, we hope others will do something.
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Chairman Asia-Pak Investment said that the production of Kadirpur gas field is decreasing rapidly, we have appealed to give gas to us from other fields in the same area, the cost of electricity from local gas will be reduced very much if Laperty Power Plant is located in Duri field. If gas is provided, cheap electricity can be obtained continuously, everyone has to think together to reduce the price of electricity. Only if the price of electricity will be reduced, the consumers will be able to get relief, for this all IPPs will have to sit down and make a plan to reduce the price of electricity on an emergency basis.
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2024-09-12 04:03:41
Table of Contents
- 1 Here are the PAA (People Also Ask) questions related to the title **”Unlocking Pakistan’s Energy Potential: Locally Discovered Gas Reserves to Generate Cheap Electricity”**:
- 2 Here are some People Also Ask (PAA) related questions for the title: **Unlocking Pakistan’s Energy Potential: Locally Discovered Gas Reserves to Generate Cheap Electricity**.
Unlocking Pakistan’s Energy Potential: Locally Discovered Gas Reserves to Generate Cheap Electricity
Pakistan’s energy sector has been grappling with deteriorating conditions for a long time, and providing affordable electricity to consumers has become a pressing concern. Recently, a proposal has been put forth to utilize locally discovered gas reserves for the production of cheap electricity in the country. Shahryar Chishti, Chief Commercial Officer (CCO) of Asia-Pak Investment, emphasized the need to address the country’s electricity situation, highlighting that Independent Power Producers (IPPs) like themselves are committed to providing facilities to consumers.
Massive Gas Reserves Discovered in Pakistani Waters
The proposal comes on the heels of a significant discovery of oil and gas reserves in Pakistani waters, which is estimated to be the fourth-largest in the world [[1]][[2]]. According to reports, the cache is substantial, and its exploitation could significantly impact the country’s energy landscape. Pakistan currently has 235 trillion cubic feet (tcf) of gas reserves [[3]], and the new discovery offers enormous potential for generating electricity.
Reducing Fuel Costs and Increasing Demand
Shahryar Chishti highlighted that the real issue lies not in capacity payment, but in fuel cost and increasing demand. By treating the locally discovered gas, the cost of production can be reduced, and the government is being proposed to change the rate of return from dollars to Pakistani rupees. This move could lead to cheaper electricity for consumers and stimulate economic growth.
A New Era for Pakistan’s Energy Sector
The 1994 agreement, which ensured a 100% rate of return in dollars, was changed in 2021, and companies like Liberty Power are already contributing to the energy mix with a 75% output. The discovery of new gas reserves and the proposals put forth by IPPs like Asia-Pak Investment could mark a new era for Pakistan’s energy sector.
Time for Action
The CCO of Asia-Pak Investment emphasized that it is wrong to assume that gas reserves are decreasing in Pakistan, as new discoveries have been made, and these reserves should be utilized to generate electricity. The government is being urged to take action, and IPPs are offering their plans and share to make a meaningful impact.
the recent discovery of massive oil and gas reserves in Pakistani waters, coupled with the proposal to utilize locally discovered gas reserves for electricity generation, presents a significant opportunity for Pakistan to address its energy challenges. By reducing fuel costs and increasing demand, the country can take a crucial step towards providing affordable electricity to its citizens, stimulating economic growth, and improving its overall energy scenario.
Unlocking Pakistan’s Energy Potential: Locally Discovered Gas Reserves to Generate Cheap Electricity
Pakistan’s energy sector has been grappling with deteriorating conditions for a long time, and providing affordable electricity to consumers has become a pressing concern. Recently, a proposal has been put forth to utilize locally discovered gas reserves for the production of cheap electricity in the country. Shahryar Chishti, Chief Commercial Officer (CCO) of Asia-Pak Investment, emphasized the need to address the country’s electricity situation, highlighting that Independent Power Producers (IPPs) like themselves are committed to providing facilities to consumers.
Massive Gas Reserves Discovered in Pakistani Waters
The proposal comes on the heels of a significant discovery of oil and gas reserves in Pakistani waters, which is estimated to be the fourth-largest in the world [[1]][[2]]. According
