CPEC project:China perturbed at delay in vital CPEC project
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ISLAMABAD: Chinese company has issued reservations and agitated against the delay in the vital CPEC project.
China has sought an end to delay in starting the implementation phase of $1.6 Gwadar-Nawabshah LNG terminal & Pipeline Project (GNGP) which will ensure the supply of 1.2 bcfd RLNG to the country.
The Executive Committee of National Economic Council (Ecnec) approved the project in September 2016 and the implementation phase should have been started the same month but it did not happen.
Gwadar-Nawabshah LNG terminal & Pipeline Project is one of the 51 projects promoted by President Xi Jinping during the state visit to Pakistan in April 2015.
In a letter to Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi, China Petroleum Pipeline Bureau has agitated the issue of delay saying the contract for the pipeline part has been ready for signing since the approval of Ecnec completed in 2016.
And in October 2016, the CPP accomplished commercial negotiations on LNG terminal portion of GNGP with Price Negotiation Committee and submitted to the Ecnec for approval.
The final contract of GNGP was originally planned to be signed at the end of November or early December 2016.
