National Energy Security Plan aims to
transform Pakistan into a vital enegy
transit route in Central Asia and the
Arabian Sea. The government is undertaking
feasibility studies for the building of
three regional pipelines for gas imports.
Seeking to reduce dependence on imported oil
and to prepare to meet future energy demands
as Pakistan continues to register astounding
year-on-year growth, reaching 8.3% in the last
months. President Musharrafs government
is undertaking an overhaul of the countrys
oil and gas sectors. The government is privatizing
national assets and promoting new exploration
and development. More than 50 agreements for
new onshore and offshore blocks have been signed
in the past year, according to Federal Minister
and Natural Resources, Amanullah Khan Jadoon.
He says that the government is spending a great
deal of effort on both domestic and international
fronts to secure Pakistans energy future.
Energy is the basis for development, so
it is very important to achieve self-sufficiency.
If you have a shortfall, you strangle your growth,
he remarks. Mr. Jadoon, who recently hosted
a conference in the UK to highlight new opportunities
in the sector, says that a number of initiatives
have been put in place to attract new investment.
Federal Minister for Petroleum and Natural
Secretary for the Ministry of Petroleum
and Natural Resources
Pakistan currently imports over 80% of its
oil, which repres-ents 30% of the countrys
total energy supply.
Natural gas, which currently makes up 50% of
total energy supply, is abundant in the country,
and an increasing focus for the future. New
gas discoveries have increased the countrys
reserves by 60% over the past two years, from
2.2 billion to 3.5 billion cubic feet per day,
saving the government some $700 million in furnace
oil imports, according to Ahmad Waqar,
Secretary for the Ministry of Petroleum and
Natural Resources. Mr. Waqar says the government
is now running feasibility studies on three
different regional pipelines for future gas
imports as part of its new 15-year National
Energy Security Plan. The plan will transform
Pakistan into a vital regional energy transit
route taking advantage of the countrys
ideal location at the crossroads of Central
Asia and the Arabian Sea. It also envisions
investments of $600 million in new liquefied
natural gas (LNG) re-gasification facilities
in Karachi and LNG port facilities at either
Gwadar or Karachi.