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Home / Breaking News / Pak,China agrees to establish Oil,Gas Sub-Group

Pak,China agrees to establish Oil,Gas Sub-Group

ISLAMABAD –UNS- Pakistan,China agreed to established an Oil and Gas Sub-Group under the Energy Working Group in order to facilitate the identified and future oil and gas sector projects both sides.
NurBekri, Administrator, National Energy Administration (NEA) alongwith his delegation visited the Ministry of Petroleum & Natural Resources today and held discussions with Mr. ShahidKhaqanAbbasi, Minister for Petroleum & NR. Mr. Sikandar Sultan Raja, Secretary Petroleum and other senior officials of the Ministry were also present during the meeting.
Minister Petroleum appreciated the fact that the Governments of Pakistan and the Peoples Republic of China have joined hands to address the energy crisis and to provide relief to the people and industry of Pakistan.
Minister Petroleum highlighted the dynamics of the petroleum sector of Pakistan and informed the delegation that oil and gas sector is a completely market based, economically viable and sustainable sector.
Minister Petroleum added that Pakistan is expected to grow to a 30 MTPA LNG market within 5 years and 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.
Minister Petroleum 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. The Minister proposed that the Petroleum sector projects can be developed under BOOT or EPCF modes by Chinese companies under G2G sectoral framework agreements.
NurBekri, Administrator, China National Energy Administration 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.

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