ISLAMABAD
The Administrator of National Energy Administration (NEA) Nur Bekri, along with his delegation visited the ministry of petroleum & natural resources Wednesday, and held discussions with Minister for Petroleum & NR. Shahid Khaqan Abbasi. Secretary Petroleum Sikandar Sultan Raja and other senior officials of the ministry were also present during the meeting.
Minister petroleum appreciated the fact that the government of Pakistan and that of the People’s Republic of China have joined hands to address the energy crisis and to provide relief to the people and industry of Pakistan.
The minister highlighted the dynamics of the petroleum sector of Pakistan and informed the delegation that oil and gas sector is a complete market based economically viable and sustainable sector.
The minister also added that Pakistan is expected to grow to become a 30 MTPA LNG market within 5 years notifying that a regulatory regime for LNG providing full third-party access has been developed and several major investments from private sector terminal developers and LNG producers are in the pipeline.
He also invited the Chinese oil and gas sector companies to explore multiple investment opportunities in different fields of the petroleum sector of Pakistan including oil and gas exploration & production, setting up a large deep conversion mid-country oil refinery, laying of gas, crude oil and white oil pipelines, oil storages facilities, and supply of petroleum products.
Later the minister proposed that the petroleum sector projects can be developed under BOOT or EPCF modes by Chinese companies under G2G sectoral framework agreements.
The Administrator, China National Energy Administration Nur Berki applauded the recent progress achieved by Pakistan in addressing energy shortages in the country through setting up LNG and coal-fired power plants.
He stated that the Government of People’s Republic of China would encourage both the state-owned and private sector, oil and gas companies of China to come forward for exploring multiple avenues of opportunities available in the petroleum sector of Pakistan.
In order to facilitate the future oil and gas sector projects, both sides agreed that an Oil and Gas Sub-Group must be established under the Energy Working Group.
