{"id":5732,"date":"2017-11-15T10:35:13","date_gmt":"2017-11-15T05:35:13","guid":{"rendered":"http:\/\/www.ssgc.com.pk\/web\/?p=5732"},"modified":"2017-11-15T10:36:51","modified_gmt":"2017-11-15T05:36:51","slug":"pakistan-looking-towards-partnerships-with-foreign-companies-in-energy-sector","status":"publish","type":"post","link":"https:\/\/www.ssgc.com.pk\/web\/?p=5732","title":{"rendered":"Pakistan looking towards partnerships with foreign companies in energy sector"},"content":{"rendered":"

PR LAHORE – Jam Kamal Khan, Minister of State for Petroleum Division, has said that the country has significant consumption of\u00a0<\/span>energy<\/a>\u00a0<\/span>, with its GDP growth anticipated at 6.5% in the coming year. This developing scenario, he said, is opening up opportunities for new investors.<\/h3>\n

The Minister of State was speaking at a ministerial session of ADIPEC 2017, one of the world\u2019s biggest oil and gas exhibition-cum-conference being held in Abu Dhabi from November 13 to 16, 2017. The session, held on day 2 of the mega event, was entitled \u2018Ministerial Panel: Creating\u00a0<\/span>Energy<\/a>\u00a0<\/span>Opportunity through Foresight, Vision, Inspiration and Innovation\u2019 and featured\u00a0<\/span>energy<\/a>\u00a0<\/span>ministers from UAE, Oman and Egypt, besides\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>. The session was moderated by CNBC anchor Hadley Gamble.<\/h3>\n

The Minister said that\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>has already built a robust infrastructure which includes the first LNG terminal that was completed in a record time of 335 days in Karachi and through which re-gasified LNG is transmitted to local industries that require it most. He said that the second terminal will soon start operating and more such terminals will be installed in the future too. Still, he said, a lot needs to be done since the entire\u00a0<\/span>energy<\/a>sector<\/a>\u00a0<\/span>has not been covered and gas and power requirements still need to be fulfilled. While emphasising that\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>still has an appetite to consume more\u00a0<\/span>energy<\/a>\u00a0<\/span>, he said that the country needs to improve its upstream resources. The Minister added that in the field of exploration and production (E&P), there is a lot of room for\u00a0<\/span>companies<\/a>\u00a0<\/span>to come in and do work and we are looking to increase our capacity in refining.<\/h3>\n

Jam Kamal Khan sounded upbeat about Pakistan\u2019s oil and gas\u00a0<\/span>sector<\/a>\u00a0<\/span>and said that the country was looking for\u00a0<\/span>partnerships<\/a>\u00a0<\/span>and stressed that there are “opportunities in E&P, refining and LNG.” The Minister used\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>‘s relationship with ADNEC and its “brothers in the UAE” as examples of existing strong\u00a0<\/span>partnerships<\/a>\u00a0<\/span>. He also talked about the importance of working with Egypt and Oman, emphasising on the value of\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>‘s potential LNG partnership with Oman.<\/h3>\n

It must be mentioned here that\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>has a strong presence at the ADIPEC 2017. The Petroleum Institute of\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>has taken the lead in setting up a\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>Pavilion in the Exhibition Area that features the veritable who\u2019s who of\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>oil and gas\u00a0<\/span>sector<\/a>\u00a0<\/span>including\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>State Oil,\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>Petroleum Limited, Oil and Gas Development Company Limited, Sui Southern Gas Company, Sui Northern Gas Pipelines Limited, Mari Petroleum Company Limited, Inter State Gas Systems (Pvt.) Ltd., Government Holdings (Pvt.) Limited, Khyber Pakhtunkhwa Oil and Gas Development Company and\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>LNG Terminals Limited.<\/h3>\n

The elite panel at the Ministerial Session also included Sohail Mohammad Al Mazrouei, Minister of\u00a0<\/span>Energy<\/a>\u00a0<\/span>and Industry, UAE, Mohammed Hamad Al Rumhy, Minister of Oil and Gas, Sultanate of Oman and Tarek El Molla, Minister of Petroleum and Mineral Resources, Arab Republic of Egypt.<\/h3>\n

UAE\u00a0<\/span>energy<\/a>\u00a0<\/span>minister said that Pakistan\u2019s refining industry has a huge potential for growth and expansion and UAE is all set to invest more in that\u00a0<\/span>sector<\/a>\u00a0<\/span>. The Minister added that renewable\u00a0<\/span>energy<\/a>\u00a0<\/span>too has a huge growth potential in\u00a0<\/span>Pakistan<\/a>\u00a0<\/span>. Oman oil and gas minister focused on the importance of gas for\u00a0<\/span>energy<\/a>\u00a0<\/span>security and urged players to “lean towards LNG”. Unlocking tight gas in Oman could prove to be a game-changer for the country but he admitted there are challenges in the form of production and costs, he said. Egypt’s petroleum and mineral resources minister sounded optimistic about Egypt becoming increasingly attractive to investors now that it was emerging out of political turmoil that had a negative impact on investment.<\/h3>\n","protected":false},"excerpt":{"rendered":"

PR LAHORE – Jam Kamal Khan, Minister of State for Petroleum Division, has said that the country has significant consumption Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":5735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,1,12],"tags":[],"class_list":["post-5732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-news","category-press_release"],"_links":{"self":[{"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=\/wp\/v2\/posts\/5732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5732"}],"version-history":[{"count":1,"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=\/wp\/v2\/posts\/5732\/revisions"}],"predecessor-version":[{"id":5734,"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=\/wp\/v2\/posts\/5732\/revisions\/5734"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=\/wp\/v2\/media\/5735"}],"wp:attachment":[{"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ssgc.com.pk\/web\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}