Minister of Petroleum—Jam Kamal Khan informed that Pakistan has a major usage of energy. The GDP growth of the country is expected at 6.5% in the following year. He mentioned that this developing situation is opening up new opportunities for investments in the country.
The Minister informed during his session at the world’s biggest oil and gas exhibition-cum-conference—ADIPEC-2017, held between November 13th till 16th 2017 at Abu Dhabi. On the day 2 of the event Handley Gambler—Anchor CNBC moderated the session titled as the “Ministerial Panel—Creating Energy Openings via Foresight-Inspiration-Vision & Innovation”. The session included the energy ministers from Pakistan, Oman, Egypt and the United Arab Emirates.
The minister informed that Pakistan has already manufactured a strong structure including the first LNG terminal which was completed in the span of three hundred and thirty-five days in Karachi and through this re-gasified LNG is sent to all the local industries in most need of it. He added that the second terminal would soon be operational and more such terminals are to be made in near future. He said that a lot of work needs to be done as the whole energy sector is not completely covered and gas and energy needs are still to be met. He also added that the country has an active appetite for the energy consumption and said that the nation requires to progress in its upstream resources.
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The minister said that there is plenty of room to expand and explore in the field of exploration and production (E&P) so companies are welcomed to do the work and also the country is looking for increasing its capacity in refining.
Jam Kamal Khan emphasized upon the openings in E&P, LNG, and refining. He quoted Pakistan’s partnership with ADNEC and its brothers in the United Arab Emirates as the example of strong current relationships. He stressed upon the significance of Pakistan’s potential LNG partnership with Oman and also talked about the importance of working with Oman and Egypt.
It is crucial to mention that Pakistan holds a major existence at the event—ADIPEC-2017. A Pakistan Pavilion was set up by the Petroleum Institute of Pakistan in the exhibition area featuring the who’s who of the Pakistan oil and gas division. The firms who participated in the event were:
- Pakistan LNG Terminals Limited
- Pakistan Petroleum Limited (PPL)
- Khyber Pakhtunkhwa Oil and Gas Development Company
- Pakistan State Oil
- Sui Sothern Gas Company
- Government Holding (Pvt.) Limited
- Oil and Gas Development Company Limited
- Sui Northern Gas Pipelines Limited
- Inter-State Gas Systems (Pvt.) Ltd.
- Mari Petroleum Company Limited
Sohail Mohammad Al Mazrouei—UAE Energy Minister said that the Pakistan’s refining industry has great potential for expansion and growth and UAE is all ready to invest more in that division. He also added that the renewable energy sector of Pakistan has also got huge growth potential.
Mohammad Hamad Al Rumhy—Oman’s Minister of Oil & Gas stressed on the significance of gas for energy security and encourages the participating nations for relying on LNG.
Tarek El Molla—Minister of Petroleum and Mineral Resources-Egypt said that Egypt is attracting more investors as it is now coming out of its political mayhem that was affecting the foreign investments badly.
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