Pakistani-American business leader urges shale gas exploitation for energy security

[Edevelop]

WASHINGTON, March 6 (APP): Pakistan’s sustainable development depends on energy security through a long-term focus on exploiting indigenous water, solar and shale gas sources, a leading Pakistani-American business leader said. Mossadaq Chughtai, a prominent Virginia-based entrepreneur, said Pakistan should encourage investment in shale oil and gas exploration and seek U.S. technological cooperation to harness its massive reserves as part of efforts to meet its exponential energy requirements. With 220 billion barrels of oil and 586 trillion cubic feet of shale gas, Pakistan possesses huge reserves. Therefore, Pakistan must go for exploitation of the vast gas source to fuel its economy and achieve energy security, he said in an interview.
Chughtai, who is also associated with Council on Pakistan Relations, remarked that exploitation of shale gas would not only provide inexpensive gas but also bring energy independence to Pakistan for decades to come.
In this respect, he cited the example of the United States, where shale gas production has grown from one percent to over 20 percent in a matter of a decade and has reduced American dependence on foreign energy sources.
He said Washington should help Pakistan which is a key player n the economic integration and security of the region - in building large water reservoirs and hydel power projects like Diamer Bhasah dam.

Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - Pakistani-American business leader urges shale gas exploitation for energy security