Pakistan and China take important decision over 4 key Oil and gas Projects under CPEC

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Pakistan and China take important decision over 4 key Oil and gas Projects under CPEC

ISLAMABAD - Pakistan and China have to collaborate on four key projects for oil and gas under the framework of the China-Pakistan Economic Corridor (CPEC).

These projects include finalizing a feasibility report on the South-North Gas Pipeline Project by Power China International Group of Companies and upgrading Pakistan Refinery Ltd.

The decision was made during a recent meeting. The meeting agreed to work on the following projects in the first phase:

1. Finalization of feasibility study on the South-North Gas Pipeline Project. 2. Upgradation of Pakistan Refinery Ltd, Karachi. 3. Coal to Liquid Engineering Plant in Thar. 4. Feasibility study for coal gasification.

Both sides agreed to work on the development of the “Pakistan Oil and Gas Industry Development Plan Report” with a focus on oil and gas exploration and petrochemical refinery.

The two countries also consented to form a development plan for the timely development of projects under CPEC.

It was decided that the interested parties will be asked to conduct feasibilities and present it before the next Energy Planning Expert Panel for review.

Experts from the two countries agreed that the projects that have the Experts Panel’s and Joint Energy Working Group’s nod will undergo a feasibility study before being formally implemented.