FPCCI welcomes Interest of foreign investors in LNG project

Lahore : The FPCCI on Sunday welcomed the decision of the foreign investors to invest heavily in supplying the LNG to Pakistan and pour millions of dollars in the infrastructure.

The interest of foreign investors proves transparency and success of the project which can be attributed to the efforts of Prime Minister Shahid Khaqan Abbasi, it said.

A Japanese company specializing in gas-value-chain business wants to invest in the infrastructure with the partnership of a Singapore-based firm which is very encouraging, said Atif Ikram Sheikh, Chairman FPCCI Regional Committee on Industries.

He said that Japanese company Mitsui aims to further expand its presence in the gas business in the newly emerging LNG markets like Pakistan and it has promised to deliver a key energy infrastructure project of high national importance.

Atif Ikram Sheikh who is also running for the vice presidency of FPCCI said that effort of the PM Abbasi is beginning of regular gas supplies which will reduce the gap between supply and demand of the gas.

The government will transform national energy landscape by starting to balance energy mix which is very heavily tilted towards oil, he said.

The industry is pinning hopes as LNG will revive power sector and industry while salvaging CNG industry in Punjab, he added.

The business leader said that power, fertilizer and textile sectors are benefitting from the imported gas while other sectors will soon start getting it as the problem in the second LNG terminal is a temporary one.

He said that government should also explore the construction of pipelines in the private sector, expedite work on the south-north pipeline, and establish new terminals.