Islamabad - Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi Wednesday underlined the need for linking Iran-Pakistan gas pipeline project to lifting of sanctions on Iran, adding the same would be completed in three years as and when sanctions are removed.
Talking to media persons after addressing an opening session of the two-day oil and gas summit being organized by International Research Networks(IRN), in collaboration with Ministry of Petroleum and Natural Resources here, the Minister said the same line of thinking had also been coveyed to Iran. He said there was no external pressure to prevent progress on the project adding that in presence of the sanctions, the work could not proceed on the pipeline to import gas from Iran. Answering another question regarding the LNG import project, the Minister said all modalities had been worked out and negotiation on government-to-government basis were under way with Qatar.
He said no pricing had been finalized to import the LNG and that first supply of the gas would reach the country by November this year. Replying to an other question, he said, after the 18th Amendment issues with regard to the OGRA were being sorted out and things would go, smoothly.
He said the summit would go a long way in highlighting the country’s hydrocarbon resources and working out strategies to effectively explore these natural wealth for mitigating the energy crisis in the country. Earlier, addressing the conference, the Minister said the government was working on several front to effectively meet the country’s energy requirements and several measures were being taken in this regard.  He said the event would bring energy experts of international repute together to analyses crucial issues and activities in the oil and gas industry in Pakistan, besides addressing the legal framework, geology and proven reserves, pipeline routes, technical issues, key onshore and offshore threats, emerging technologies, and forthcoming opportunities for investors and operators to get involved and benefit from the lucrative potential in the country.
He asked the participants to come with viable solutions that could be conveniently implemented for exploring the hidden resources especially Shale gas reserves.
Speaking on the occasion, USAID official said USAID had agreed to provide funding for Shale Gas Programme and collaborating with the government with sharing concept papers, developing the conceptual framework, engaging best available consultants for execution of the programme.
He said the shale gas exploitation was critical for Pakistan as the gas supply in 2011-13 was 13 million ton of oil equivalent(MTOE) compared to total primary energy supply of 64 MTOE.
He said balance recoverable reserves of conventional natural gas are reported as 27 trillion cubic ft(TCF).
Other speakers also shared their expertise with regarding exploring the hydrocarbon resources of the country.
They were of the view that Pakistan offers vast exploration and production opportunities, especially given that parts of these sedimentary basins still remain unexplored or are under explored.