Oil and gas sector attractive for investment: Dr Musadik Malik

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ISLAMABAD, Nov 4 (APP): Special Assistant to Prime Minister Dr.
Musadik Malik on Wednesday said the government offers good opportunities for investment in energy sector as the country was blessed with abundant natural resources.
Speaking at a Pakistan Investment Conference organized by Board of
Investment here, he said there was a investment-friendly policy in place in oil and gas sector protecting 100 percent ownership of foreign firms which could pump in their resources to explore the country’s indigenous resources to overcome the gas supply and demand gape.
He said a huge quantity of gas was disappeared from the system due to
gas leakages and other technical faults, causing a massive revenue losses to the gas utilities.
Thus, among other areas in the oil and gas sector, investors could come
up with sophisticated technology and solid remedies to plug the gas which was wasted on account of Unaccounted for Gas (UFG) and back efforts to overcome the shortfall which had swollen up to 2 billion cubic feet.
He said the government was pursuing pro-investment policies,
envisaging a number of facilities and incentives which were compatible and more attractive than those offered at any other country of the world.
He said, the investors could also invest in LNG business as the
country was searching for all available options to meet energy needs, adding since LNG was a game changer, the government succeeded to import the LNG.
He said the government pursued a transparent process for developing a
terminal LNG regasification terminal in a record time and first gas flow was ensured at March this year.He said the current 400 mmcfd terminal would add five percent to the
country’s primary energy mix.