Trans-national deals to usher development, prosperity in the county
Advisor to the Ministry of Petroleum & Chairman OGDCL Mr. Zahid Muzaffar has said that the impact of trans-national deals with China, Turkmenistan, Iran and Qatar, will usher a new era of development and prosperity in the country. He invited investors to come to Pakistan and seek ensuing opportunities.
He was speaking at the 8TH Pakistan Energy Forum 2016 which concluded in Islamabad today. Organized by SHAMROCK Conferences International (www.shamrockconferences.net) the annual conclave was addressed by representatives of government, regulatory bodies, eminent practitioners, opinion formers, and potential foreign investor countries. Ambassadors, Charge d'Affairs and Commercial Attaches of Turkmenistan, Qatar, Iran, Brazil, Portugal, Turkey, Germany, Poland, the UK and Algeria, respectively, also attended the sessions.
The theme of the conference was "Impact of Large Scale Trans-National Ventures" highlighting the CPEC (China Pakistan Economic Corridor), TAPI ( Turkmenistan, Afghanistan, Pakistan & India) Gas pipeline, IPGAS (Iran-Pakistan gas pipeline) and the Pak-Qatar LNG deal, respectively. Dr. Gulfaraz Ahmed, giving a review of the initiatives underlined the enormous economic benefit to the country and the major change in regional geopolitical dynamics.
In the opening session, "Strategy and Sustainability amidst Falling Global Prices" H.E. Mr. Claudio Raja Gabaglia Lins, Ambassador of Brazil in Pakistan highlighted the energy resources in his country and showed interest in Pakistan's energy prospects. Mirza Shakil Baig, Managing Director, Bakri Petroleum spoke on the challenges being faced by the new oil marketing companies and looked for convenience in operational issues. Mr. Asim Tirmizi, Project Director, Liquid Gases, representing Mr Khalid Rahman, Managing Director, Sui Southern Gas Company (SSGC) highlighted how the company was moving steadily towards sustainable supplies to meet demand.
The second session "An Integrated Approach to determine Pakistan's Energy Mix" Mr. Iftikhar Ahmed of Sindh Energy dept., said the key objective of the province is to make Sindh self-sufficient and extend its success to the rest of country. Highlighting the potential of Balochistan as the next frontier for energy resources, Sardar Shaukat Popalzai said Balochistan was open to investment and development, He added, "All the major pipelines TAPI, IP and QP pass through Balochistan, and with removal of sanctions on Iran, regional prospects are bright. Mr. Iftikhar Randhwa, representing Secretary Energy, Govt. of the Punjab, gave a historical background of the country energy issues and discussed how Punjab had moved forward briskly in addressing energy problems; whereas, Mr. Tariq Rasheed of Khyber Pukhunkhwa Oil & Gas Company opined, that the KP province has huge potentials for investors.
The third session "Investment and Technology for Alternative Options" featured Mr. Inam ur Rehman, CEO, Reon Energy who emphasized the need for technological growth to spur renewals options, while Syed Imran Shah, GM at FFC Jhimpir Wind Power, concluded, by saying that the wind ener- gy projects in the country, particularly in Sindh, have increased to a great extent.
Being organized for the eighth consecutive time, the conference has made a mark as one of the premier events in the federal capital focusing on the challenges of the energy sector.
Earlier in his opening remarks, Menin Rodrigues, Chairman of SHAMROCK Conferences International and the Convener of the conference said, "It is heartening to see most stakeholders in the energy sector participate in the conference, indicating the importance, both the government, the private sector and investor groups & countries, were giving to this challenging situation. I am sure the way forward to achieving our collective goals is to come together and dialogue to adopt the most favorable route."
The annual conclave of key stakeholders attracted 150 delegates from more than 100 companies and organizations that are directly or indirectly connected to the energy sector in Pakistan. Display stalls were setup by sponsor companies which provided additional attention from the participants.