Daily Times: WB Urges Pakistan to Focus on Gas Exploration

Pakistan is required to focus more on the exploration and production side as the sufficient incentives for firms to explore and produce gas can help to overcome gas load shedding.

This was stated by World Banks (WB) Head of Support to Pakistan Energy Sector Richard Spencer on Thursday during a live public Facebook discussion on a topic ‘Gas Resources in Pakistan’.

He said further that a good policy regime, adequate prices, and efficient administration are the important things that need to happen in the gas sector to increase its supply.

Spencer said that gradual introduction of a market for gas, allowing prices to reach the level where they both provide the incentives for additional production and give signals to the market for its efficient use are required to be done for reducing the gas shortage and implied by the two, reforms of the structure of the sector to improve the efficiency of operations, including reforms to the state owned parts of the sector.

He said that the international oil companies have a choice of where they invest and they will go to where they can make the best returns, so improving the incentives is important in Pakistan. MORE