January 26, 2021

Business Insider

Providing broad scope of business news and press releases

Discovery of gas reserves in Sindh

1 min read
<br/>Karachi: Reserves of over 100tcf of shale gas have been discovered in different parts of Sindh and work has been initiated in Hala, district Matiari. According to Alfalah Securities Limited, [...]

Karachi: Reserves of over 100tcf of shale gas have been discovered in different parts of Sindh and work has been initiated in Hala, district Matiari.

According to Alfalah Securities Limited, The discovery of gas reserves bodes well for the country as it faces acute shortage of gas rising and is expected to rise further as old gas fields tend to deplete and demand is on the rise. Pakistan’s total gas requirement stands at around 6.50 bn cubic feet per day (bcfd) whereas, the current supply of gas stands at 4.0 bcfd depicting a shortage of 2.5 bcfd. The gas shortage is expected to further hike by 1.0 bcfd in winter. Moreover, the govt. has also planned to import 500mmcf LNG to meet the gas demand of mainly industries.

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