Pakistan and Iran to ink gas deals

[ameer219]

Iran, Pakistan to ink gas deal in Turkey
Sun, 07 Feb 2010 11:25:46 GMT

The Pakistani Federal Minister for Petroleum has declared that Pakistan and Iran will sign a deal in Turkey before February 15 to construct a gas pipeline between the two countries.

Naveed Qamar said that the construction of the pipeline will take between four and five years.

He noted that the natural gas shortage is damaging Pakistan's economy and Islamabad is determined to start the import of natural gas from Iran as soon as possible, Daily Times reported.

The Pakistani minister's remarks come as the US special envoy to Afghanistan and Pakistan Richard Holbrooke urged Islamabad last month to avoid the deal with Iran.

Holbrooke had said that the US would help Pakistan secure liquefied natural gas supplies should it abandon the planned gas deal with Iran.
Iran, Pakistan to ink gas deal in Turkey

 

[Chanakyaa]

Very Good development for Pakistan.
It will be interesting to see how India reacts.

Any ways.. It will be very good deal for people as they will get Good Supplies of Gas for a varierty of appliactions, including Power Production.

 

[ameer219]

Why should India react to this gas deal?I thought it did not want to participate in this

 

[bozorgmehr]

I wish we could cooperate in more than just gas and oil ventures. Between Turkey, Iran, Pakistan and other neighbouring nations, we have so much untapped potential, it is sad. Gentlemen, I will tell you. Our salvation is through cooperation. Why go trading with countries on the other side of the globe, when we can have mutually beneficial relations with our very neighbours. It will deepen our commercial and cultural ties, keep us united, stabilize the region and make sure we prosper together at more or less at the same rate. Why we don't do it, we have to look squarely in the mirror...

 

[Hammy007]

i wanna know one thing that why pakistan is willing import gas, what about our gas reserves in balochistan in the first place, cant we utilize our own reserves???

 

[Abi]

i wanna know one thing that why pakistan is willing import gas, what about our gas reserves in balochistan in the first place, cant we utilize our own reserves???

You need billions and billions of dollars of investments to be able to extract natural gas. The technology needed is also very advanced. You have to get foreign firms to do it. I think they will once the security situation improves.

 

[Hammy007]

You need billions and billions of dollars of investments to be able to extract natural gas. The technology needed is also very advanced. You have to get foreign firms to do it. I think they will once the security situation improves.

pakistan already extracts gas from its fields for your information and without foreign assistance, the place is called SUI. i dont think extracting gas is as expensive as extracting oil

 

[Abi]

pakistan already extracts oil from its fields for your information and without foreign assistance, the place is called SUI. i dont think extracting gas is as expensive as extracting oil

I didn't say you don't extract oil. The technology for extracting gas is different to extracting oil. It requires a lot of investment and advanced technology.

 

[Hammy007]

I didn't say you don't extract oil. The technology for extracting gas is different to extracting oil. It requires a lot of investment and advanced technology.

i meant gas not oil sry bro.

 

[Abi]

i meant gas not oil sry bro.

It's ok, but it still needs a lot of investment and i am sure you will have a lot of companies investing in your oil and gas sector once you sort out the security problems in Baluchistan. I hope that a lot of the gas revenue is spent in Baluchistan.

 

[TOPGUN]

We have one of the biggest natural res gas inside of Pakistan but with all the mess happeing the gov doesn't want to take a chance to loose money so they will try to get it from Iran.. furthermore, these deals have nothing to do with India its none of there business nor concern wat we do in our house period.

 

[dbc]

pakistan already extracts gas from its fields for your information and without foreign assistance, the place is called SUI. i dont think extracting gas is as expensive as extracting oil

..without foreign assistance? That's just not true; foreign assistance is sought for exploration, development and production. Also gas production infrastructure is more expensive to build and operate.

 

[dbc]

KARACHI, March 25: Based on 2004 data of remaining recoverable reserves, Pakistan with gas reserves of 28tcf (current reserves 32.8tcf) ranks 6th in the Asia Pacific region.

The country offers huge oil and gas potential and vast relatively unexplored acreage, with historical success ratio of 1:3.4. “The major portion of hydrocarbons is untapped,” says a JS Capital Markets report on “Pakistan’s gas reserves and gas fields” released on Wednesday.

The report notes that rising energy consumption level is an indication of growing economic activities in a country. Pakistan’s primary energy supplies have grown at 5.2 per cent CAGR to 55.5mn toe during FY01-05. Currently, 72 per cent of total energy requirements are met through indigenous production while the rest is imported. Natural gas remains the mainstay of primary energy supplies, covering 50 per cent of the domestic energy mix in FY05. Local gas demand is met entirely through indigenous resources.

The report indicates the country’s exploration acreage has found to have greater prospects for gas than that of oil. In the last five years (FY01-05), Pakistan’s remaining recoverable gas reserves have grown at a CAGR of 6 per cent and reached 32.8tcf in FY05. “This is quite an encouraging growth if one considers the rise in gas production level that has depicted 10 per cent CAGR in this period,” say analysts, adding that against this, balance recoverable reserves of oil have registered a CAGR of four per cent.

According to the Energy Year Book 1998, Pakistan’s wide sedimentary basin has a potential of 200tcf of natural gas. As per the Energy Year Book 2005, Pakistan’s total gas reserves stood at 51.5tcf of which 18.7tcf have already been utilized and thus 32.8tcf are remaining recoverable reserves.

At current production rate, Pakistan possesses gas reserves for the next 24 years assuming no discovery takes place in the future. Compared to this, country’s oil reserves are expected to last for the next 13 years at current production level and assuming no replacement in future. Gas reserve replacement ratio (calculated using reserves additions divided by production) has been encouraging in the past, with last five years average arrived at 237 per cent and is also quite better than the oil reserve replacement ratio of 92 per cent.

According to the JSCM report, Uch gas field (operated by OGDCL) ranks top, with remaining recoverable reserves of 4.61tcf. It is followed by Sui (3.98tcf), Mari (3.84tcf), Qadirpur (3.77tcf), Sawan (2.05tcf), Zamzama (1.95tcf), Kandra (1.73tcf), Manzalai (1.4tcf), Bhit (1.35tcf), Bhit (1.35tcf), Mari Deep (1.21tcf), Kandhkot (0.73tcf), Miano (0.72tcf), Makori (0.70tcf), Pirkoh (0.65tcf), Dhodak (0.56tcf), and others (3.55tcf). These fields cumulatively occupy the major chunk of around 90 per cent of the known balance gas reserves of Pakistan.

Pakistan ranks 6th in Asia Pacific: Gas reserves -DAWN - Business; March 26, 2006