ISLAMABAD: Pakistan and China on Wednesday agreed to establish a Gas Sub-Group under the Energy Working Group (EWG) aimed at facilitating the existing and future oil and gas sector pro\u00adjects.<\/p>\n
The agreement reached at a meeting of the Chinese delega\u00adtion that headed by Administrator National Energy Administration (NEA) Nur Bekri called on Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi.<\/p>\n
During the meeting, the min\u00adister said both the Pakistani and Chinese governments were working jointly to meet energy needs of Pakistan, Khaqan Abbasi highlighted dynamics of the petroleum sec\u00adtor of Pakistan and informed the delegation that oil and gas sector was a completely market based, economically viable and sustainable sector.<\/p>\n
He briefed the delegation that \u2018 Pakistan was expected to grow to a 30 MTPA (million tonnes per annum) LNG market within five years and a regulatory regime for LNG providing full third-party access had been developed and several major investments from private sector Terminal developers and LNG producers were in the pipeline.<\/p>\n
The minister also invited the Chinese oil and gas sector com\u00adpanies to explore multiple investment opportunities in different fields of the petroleum sector of Pakistan including oil and gas exploration and pro\u00adduction, setting up a large deep conversion mid-country oil refinery, laying of gas, crude oil and white oil pipelines, oil stor\u00adages facilities, and supply of petroleum products.<\/p>\n
He proposed that the petrole\u00adum sector projects can be developed under BOOT or EPCF modes by Chinese com\u00adpanies under 02G sectorial framework agreements.<\/p>\n
Administrator NurBekri applauded the recent progress achieved by Pakistan in \u2022 addressing energy shortages by setting up LNG and coal fired power plants.<\/p>\n
Courtesy \u2013 APP<\/p>\n","protected":false},"excerpt":{"rendered":"