According to the Oil and Gas Development Company Limited (OGDCL), Pakistan will limit its indigenous oil reserves by 2025 and its gas reserves within the next 15 years.
According to the Pakistan Institute of Development Economics (PIDE), current gas reserves will only last 15 years if consumption remains at current levels until 2030.
ALSO READ:
PETROL STATIONS NO LONGER ACCEPTING THE CREDIT OR DEBIT CARD FOR PAYMENTS
In its recent research brief titled “Gas Crises in Pakistan,” it made these assessments about the country’s oil and gas reserves. The PIDE also revealed that, while gas is the world’s third-largest energy resource, Pakistan contributes less than 1% of global gas consumption with its 30.6 billion cubic meters of natural gas.
Pakistan meets its energy needs primarily through imported and indigenous resources in the ratio of 44:56. Both imported Liquefied Natural Gas (LNG) and natural gas account for more than 40% of the country’s current gas consumption.
ALSO READ:
BOOK A HYUNDAI CAR TODAY & GET IT IN ONLY ONE MONTH
Pakistan’s gas demand has recently skyrocketed, while gas production and exploration have declined, and LNG’s regulatory and operational structure is ineffective, resulting in a countrywide shortage and higher supply costs.
According to its data, 78 percent of Pakistani households lack access to natural gas due to the high cost of installation. Its domestic consumption has increased by 11% over the last few years.
