The price negotiating committee constituted for the liquefied natural gas (LNG) pipeline and terminal project at Gwadar Port, is going to hold the final round of talks with China Petroleum Pipeline in the current month.
“The committee has already held several meetings with China Petroleum Pipeline to negotiate the price; the final round of talks is expected this month, after which recommendations will be sent to the Economic Coordination Committee (ECC) for approval,” an official of the Ministry of Petroleum and Natural Resources told APP on Friday.
The price negotiating committee, constituted by the ECC, comprises secretaries of the ministries of petroleum, finance, Law Division, Board of Investment, managing directors of Sui Northern Gas Pipelines and Inter State Gas Systems.
China Petroleum Pipeline has been designated to lay the LNG pipeline from Gwadar to Nawabshah, which will have the capacity to carry up to 500 million cubic feet per day.
According to officials, the project plan for the 700km gas pipeline has been approved by the Central Development Working Party and the Executive Committee of National Economic Council.
The project is aimed at bridging the growing demand-supply gap in the country. At present, Pakistan is producing 4 billion cubic feet of natural gas per day (bcfd) compared to the demand for 6.4 bcfd.
