Egypt shows interest to develop G2G cooperation in energy sector of Pakistan

ISLAMABAD, Aug 26 (APP):Egypt on Wednesday expressed keen interest to develop government-to-government (G-2G) cooperation in energy sector of Pakistan after seeing conducive investment environment and opportunities in diverse areas like power, gas, renewable energy, LNG and CNG.

A delegation of Egyptian Energy Company TAQA, led by Ambassador Tarek Dahrough, called on Special Assistant to Prime Minister on Petroleum Nadeem Babar here and showed interest to invest in energy sector of Pakistan.

The delegation focused on exploring business opportunities in energy sector of Pakistan.

The SAPM gave an overview of Pakistan’s Energy sector and appraised the delegation about government’s efforts in reforming the energy sector, adding “These efforts are being personally overseen by the Prime Minister of Pakistan himself.”

Nadeem Babar also reaffirmed Pakistan’s commitment to cleaner fuels and green energy and said Pakistan’s energy- mix would be diversified by injecting more hydel and renewable sources in the national grid.

He foresaw the share of renewable energy to increase 20 percent by year 2025 and 30 percent by year 2030.

The Egyptian company expressed interest to invest in the energy sector including areas of power generation, transmission and distribution, projects related to renewable energy as well as in Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG) and gas Distribution sector of the country.

The delegation thanked the SAPM for the presentation on energy sector and expressed keen interest to develop footprint of the company in Pakistan.

The ambassador hoped that G2G relations between Egypt and Pakistan would be forged in energy sector to further the existing bilateral economic ties.