The whole gas and energy business in South- and Central-Asia is something that Nordic companies should also watch carefully. We would encourage especially Norwegian oil & gas companies to research the market in Pakistan right now:
Pakistani gas company set to emerge as key player on world energy map.
Inter State Gas Systems (ISGS), a company established by the government to work on gas import projects, is striving to secure energy resources to make Pakistan self-sufficient and it is expected to emerge as a key player on the world’s energy map after regional pipeline projects are executed.
Pakistan is eyeing gas imports from countries holding vast deposits and has entered into some key agreements with Iran and Turkmenistan to meet its energy security plan.
Iran holds the world’s second biggest natural gas reserves. In December 2012, its proven reserves stood at 1,187 trillion cubic feet as most of them have remained untapped because of international sanctions and delay in field development.
Turkmenistan, on the other hand, holds the world’s fourth largest natural gas reserves with proven deposits standing at 353.1 trillion cubic feet at the end of 2012.
“We have signed all agreements with these countries and financial close of the Tapi (Turkmenistan-Afghanistan-Pakistan-India) pipeline will be achieved by the end of this year,” ISGS Managing Director Mobin Saulat told The Express Tribune.
“Turkmenistan has huge gas deposits and this project will help meet the energy security plan of Pakistan.”
In an effort to bridge the gap between demand and supply of gas, the Pakistan government is pressing ahead with scores of projects including import of liquefied natural gas (LNG), Iran-Pakistan (IP) gas pipeline and Tapi gas pipeline.