Karachi November 11, 2021: In a material notice filed to Pakistan Stock Exchange Sui Northern Gas Pipelines Limited has disclosed that Board of Directors of SNGPL has given a conceptual approval to engage the services of a Transaction Advisory firm for initiation of a detailed technical, financial, commercial, legal and regulatory due-diligence of Meter Manufacturing Plant (MMP) owned by SSGC with the objective to take decision for the Company to enter into a joint venture arrangement with SSGC regarding MMP.
Sui Southern Gas Company (SSGC) is a Public Listed Large Scale Company (LSC) and is a Pakistan’s leading integrated gas Company. The Government of Pakistan directly and indirectly owns the majority of the shareholding of Company. The company is engaged in the business of transmission and distribution of natural gas besides installation of high pressure transmission and low pressure distribution systems.
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SSGCL transmission system extends in the Provinces of Balochistan and Sindh comprising over 3,614 KM of high pressure pipeline ranging from 12″ – 42″ in diameter. The distribution activities covering over 1200 towns in the Sindh and Balochistan are managed through its regional offices. About 384,979 million cubic feet (MMCF) gas was sold in FY 2015-2016 to around 2.8 million industrial, commercial and domestic consumers in these regions through a distribution network of over 44,761 Km. The company also owns and operates the only gas meter manufacturing plant in the country, having an annual production capacity of 356,000 meters on single shift basis.
The Company is managed by an autonomous Board of Directors comprising of 11 members. The Managing Director/ Chief Executive is appointed by the Government of Pakistan and has been delegated with such powers as vested by the Board of Directors necessary to effectively conduct the business of the company.