KARACHI: International oil and gas companies and some leading global investors are interested in Pakistan’s promising gas sector which is a very healthy sign, a business leader said Sunday.
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, said Ghiyas Paracha, leader of the CNG sector.
In a statement issued here today, he said that the confidence of investors is rising which will help government to bridge gas shortfall of two billion cubic feet. He said that 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 that 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. Paracha said that streamlining gas imports will benefit urea, CNG and other sectors which will trigger economic growth while providing economic fuel to motorists.