Pakistan to engage in joint oil, gas projects with China: UAE

Pakistan's Petroleum and Natural Resources Minister Shahid Khaqan Abbasi said Tuesday the China-Pakistan Economic Corridor (CPEC) focuses on infrastructure development, his country also hopes that the project could be a driver for joint oil and gas projects.

"We are hopeful that Chinese oil and gas companies will invest in the energy performance sector and also in other sphere of Pakistan's business," Abbasi told Xinhua on the sidelines of the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).

On the possibility of joint investments in liquefied natural gas (LNG), the minister said "China, like Pakistan, is an importer of LNG, but we are in discussions with Chinese firms as they have the relevant technology to explore and export LNG."

The CPEC is a pilot project under the Belt and Road Initiative. China and Pakistan have recently launched a host of projects focusing on energy and transport infrastructure.

On Aug. 4, 2016, Pakistan's Finance Minister Ishaq Dar said in Dubai when he met officials of the International Monetary Fund (IMF) that the world will see the ongoing construction of the CPEC not only serves both countries, but the entire Central Asian region.

This shared prosperity will benefit the whole region because these infrastructure projects will be later expanded to neighboring Afghanistan and Iran, he said.