Int’l investors keen to invest in gas sector: APCNGA

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 of All Pakistan CNG Association (APCNGA) said on 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 a leader of the CNG sector, Ghiyas Paracha. 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.

Paracha 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. He said that streamlining gas imports will benefit urea, CNG and other sectors, which will trigger economic growth while providing economic fuel to motorists.

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