Pakistan launches study for Strategic Petroleum Reserves to boost energy security
In a key development, Federal Minister for Petroleum Ali Pervaiz Malik on Tuesday chaired the kick-off meeting for the feasibility study on establishing Strategic Petroleum Reserves (SPR) in Pakistan, with international energy consultancy Wood Mackenzie selected to undertake the study following a competitive tender process in which four bids were received. Malik was briefed on the scope and…
Federal Minister for Petroleum Ali Pervaiz Malik convened a kickoff meeting for a feasibility study on establishing Strategic Petroleum Reserves (SPR) in Pakistan. Wood Mackenzie, an international energy consultancy, was chosen following a competitive tender. The study's scope includes technical feasibility, safety and operational assessments of storage facilities, benchmarks, policy requirements, and implementation options.
Malik emphasized the importance of energy security in relation to national security and the recent Strait of Hormuz crisis. The study aims to provide a pragmatic and implementable solution tailored to Pakistan's needs, potentially through phased development. It will evaluate existing infrastructure, connectivity, logistics, capital expenditure, financing options, and institutional responsibilities. A steering committee will oversee the progress of the study.
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