The Summit was addressed today i.e. 17. 5. 2022 by Honorable Former Prime Minister of Pakistan / Former Federal Minister for Petroleum Mr. Shahid Khaqan Abbasi, Minister for Power Mr. Khurram Dastagir and Minister of State for Petroleum Dr. Musadik Malik, DG HDIP Saeed Khan Jadoon, MD SNGPL, and other eminent speakers. SNGPL’s Managing Director in his address to the audience of Pakistan Energy Reform Summit today discussed various strategies to implement GoP reform agenda in respect of Competition and Regulation; Market Liberalization Challenges and Mitigation (focus on Gas Market).
Managing Director highlighted roles of Federal Government in formation of policies, oversight of Regulator (OGRA) and SNGPL obligations under the framework. He elaborated overall transaction structure of SNGPL, indigenous / RLNG gas supplies, consumers pricing and cross subsidies structure originating from GOP socio economic agenda. MD SNGPL reiterated its commitments to broad based gas sector reforms while opening the same to the competitive private sector.
He highlighted the key role that third parties can play in setting up of new terminals and import of RLNG to mitigate the current shortfall in demand supply situation on a sustainable long-term basis. MD SNGPL was categorical that the Company will no longer be acting a monopoly player and will be promoting level playing field for all including itself. He highlighted that sector is in the process of being opened up in line with the GOP reform agenda to address the energy shortfall in the Country in shortest possible period.
This will also mitigate the sharp decline in indigenous gas supplies in the Country.
He highlighted that Agreements with Third Party Terminal Operators are near execution after settlement of most outstanding issues. Third party gas is already being transported by SNGPL under the TPA regime for provision to individual consumers. These steps will contribute towards securing energy supplies for growing domestic demand at competitive prices. Enhancing competition in the market will also promote economic growth.
MD SNGPL noted that liberalization of market is a gradual phenomenon wherein subsidies being extended to various sectors per GOP policy will also need to be addressed while protecting interest of all the stakeholder MD emphasized the use of renewable energy sources in the Country which can effectively bring down the cost of energy in the Country. Currently Renewable energy accounts for less than 1pc of our energy requirements.