Pak seeks Russian LNG and investment in oil, gas sectors

Discussion in 'Pakistan' started by Neo, Jul 12, 2014.

  1. Neo

    Neo Senior Member Senior Member

    Feb 17, 2009
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    Pak seeks Russian LNG and investment in oil, gas sectors

    Russian team to assess Pakistan’s needs and potential
    Ali Syed

    Sunday, June 29, 2014 - Islamabad—Islamabad has asked Russia to invest in oil and gas sector and supply LNG to Pakistan.

    Pakistan has extended this offer to Russia in World Petroleum Conference held in Moscow this month . “This will be the Olympics of international oil and gas companies and we utilized this opportunity to introduce Pakistan as a destination for investment in oil and gas sector,” Advisor to Ministry of Petroleum and Natural Resources, Zahid Muazzafar said while talking to Pakistan Observer. He led Pakistan delegation in the conference.

    Russian President Vladimir Vladimirovich Putin inaugurated the World Petroleum Congress. In this mega event, about 180 world class companies dealing with oil and gas sector participated, Zahid Muazzafar said.

    “ The meeting with the top functionaries of Russian Gazprom was fruitful and in the meeting we asked them to come to Pakistan and invest in oil and gas exploration even in shape of joint ventures with OGDCL and PPL. We told that that the Nawaz government has given 42 block to domestic and foreign companies for oil and gas exploration and production activities. In the meeting Russian authorities agreed to Pakistan’s proposal and to this effect they announced to send a technical delegation.”

    “We apprised the Russians about our petroleum policy which is quite attractive and wellhead price hovers in the range of $6-8 per MMBTU and Pakistan is not only rich with conventional oil and gas reservoirs, but also has mammoth potential of tight and shale gas reserves.”

    He said that he told Russian counterpart that in Pakistan success rate of oil and gas drilling is very high which is at 1:3 ratio.

    On top of that we also offered Russia to export LNG to Pakistan and in this regard authorities in Moscow showed keen interest and promised to make a feasible proposal for this purpose. “We have sensititsed them that Pakistan is in dire need of energy and is currently in talks with Qatar for import of LNG and at that same time Pakistan government wants to get the LNG from open market for which the LNG will be imported through tendering process. Pakistan needs 2.5 billion cubic feet gas per day through LNG mode to cater to its future energy needs.”

    Moreover, Pakistan’s delegation also held meeting with top officials of many international companies which participated in the conference and we pitched out petroleum policy before them and told them that Pakistan is investment destination and has attractive incentives for investors in oil and gas sector. “We got tremendous response from the global companies and in the days to come Pakistan will formally start receiving the response hoping to get huge investment in oil and gas sector.”
  3. Blackwater

    Blackwater Veteran Member Veteran Member

    Jan 9, 2012
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    Akhand Bharat
    Russia is Kufur too they killed checniyans and Dagestan , it's against Islam to deal with Kufur

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