ISLAMABAD: International oil and gas companies and some leading global investors are interested in Pakistan’s promising gas sector which is a very healthy sign, said Ghiyas Paracha, leader of the CNG sector, in a statement here on Sunday.
He said the oil and gas majors in US, Russia, China, UAE and Singapore have realised Pakistan’s interest in gas prompting them to explore opportunities in gas import, terminals and pipelines.
He said the confidence of investors is rising which will help government to bridge gas shortfall of two billion cubic feet. He said government is framing policy for gas import by CNG sector which will relieve government of burden, reduce prices as compare to petrol and allow CNG sector to work as per the market mechanism.
He said gas utilities are improving transmission and distribution system, their swap capacity would increase by December 2016 while completion of LNG pipeline and more terminals will settle the energy crisis.
Ghiyas Paracha said that streamlining gas imports will benefit urea, CNG and other sectors which will trigger economic growth while providing economic fuel to motorists.