ISLAMABAD: Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said Thursday that 84 oil and gas discoveries were made in the country during the last three years.
Estimated reserves of 50 discoveries had been evaluated with 23 million barrels of recoverable oil and 1,409 billion cubic feet of recoverable gas, he told Senate.
To a question, Khaqan said that reserves of 32 discoveries were being appraised. It is a fact that LNG is being imported to fill the gap between demand and supply of gas in the country, he added.
The minister said total quantity of LNG imported from March 2015 to June 2016 was 117,316,664 MMBTU, adding that expenditures incurred on the same were $773,454,382.
He said estimated quantity of LNG to be imported up to December 31, 2016, is 76,800,000 MMBTU which would be imported mainly from Qatar under sale and purchase agreement.
However, the minister said, one-fourth of estimated quantity was sourced from M/s Gunvor under a five-year term tender agreement and their source would vary from cargo to cargo.