Pakistan invites Canadian investors to bid for oil, gas blocks

Babar says 18 blocks will be offered in first phase of auction

ISLAMABAD: Structural reforms are being carried out in the energy sector of Pakistan with special focus on the ease of doing business and an improved outlook for liquefied natural gas (LNG) infrastructure development, said Special Assistant to Prime Minister on Petroleum Nadeem Babar.

In a meeting with Canadian High Commissioner in Pakistan Wendy Gilmour at the Petroleum Division on Monday, Babar pointed out that Canadian investors could benefit from the LNG infrastructure development opportunities being offered by Pakistan. The special assistant extended invitation to the Canadian companies to participate in the upcoming auction of oil and gas exploration blocks. Eighteen blocks would be offered in the first phase of the auction.

Babar emphasised that Pakistan would welcome investment and the presence of Canadian companies in the energy sector of the country.

The Canadian high commissioner commended the initiatives undertaken by Federal Minister for Power and Petroleum Omar Ayub Khan, Special Assistant Nadeem Babar and the Petroleum Division aimed at facilitating ease of doing business in the country’s energy sector. “Canada considers Pakistan’s energy market as the one having great potential,” she said.

She also appreciated the gas pipeline infrastructure of Pakistan laid from plains to the mountainous terrains and said Canada could learn from Pakistan’s expertise in the area. She was optimistic that Canadian companies would establish a strong presence in the energy sector of Pakistan in the years to come.

Separately, a delegation of Global Power Synergy, Thailand called on Omar Ayub Khan. He pointed out that electricity generation, transmission and distribution cumulatively offered $80 billion worth of investment opportunities to the entrepreneurs.

Published in The Express Tribune, February 11^th, 2020.

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