Pakistan Muslim League Nawaz (PML-N) is likely to integrate the Ministry of Water and Power and the Ministry of Petroleum and Natural Resources into one ministry to be named as Ministry for Energy and Natural Resources. A senior PML-N member told Business Recorder on condition of anonymity that during a meeting in Raiwind the prospects of giving the energy portfolio to Shahbaz Sharif were discussed.
He added that no definitive decision has been taken with regard to appointing Shahbaz as Chief Minister Punjab again. "To resolve the persistent energy crisis the next government needs to work on war-footing. It will have to take immediate, mid-term and long-term measures to overcome power crisis. To deal with the energy crisis in the long run, our government will consider starting exploration and development work in Kohlu, Balochistan, where as per rough estimates natural gas reserves stand at over 22 Trillion Cubic Feet (TCF)," the PML (N) source added.
Balochistan's security situation in general and hostile sentiments in Kohlu in particular in the aftermath of the killing of Nawab Akbar Bugti on August 26, 2006, account for the failure of Oil and Gas Development Company to work in the area despite a licence.
On an immediate basis the government will need to start Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) imports, while construction of Iran Pakistan (IP) gas pipeline project falls in the midterm projects along with construction of small dams.
As per official estimates Pakistan has huge reservoirs of shale and tight gas. The US Energy Information Administration has estimated the shale gas reserves in Pakistan at 51 Trillion Cubic Feet (TCF), low BTU gas reserves of 2 TCF and that of tight gas at around 40 TCF which makes them larger than the existing natural gas reserves.
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