According to Pakistan’s acting Minister of Energy, Power, and Petroleum, Muhammad Ali, the region’s technological partners and investments are sought by Pakistan in order to grow its energy industry.
In an interview with the UAE’s state-owned news agency WAM, Ali stated, “We are searching for investments and technological partners from the Middle East, which has extremely advanced technologies and significant players in this industry.
Pakistan is a possible country. The minister, who is in Abu Dhabi for ADIPEC, added, “We have players in the country, but worldwide presence is quite restricted.
According to him, there is a “huge opportunity” between Pakistani companies and Middle Eastern players.
The four-day ADIPEC energy conference will begin in Abu Dhabi on October 2.
The current ADIPEC has a significant Pakistani presence, according to Ali, who also mentioned that the country is represented by about 10 enterprises from the oil exploration, marketing, and allied industries.
“We’ve noticed a really positive response. All of our businesses are involved and receiving a lot of interest for their goods. It’s going great being here, he said.
In terms of exploration, Pakistan has not had much success, the acting minister said.
He stated that there were two main causes for this: first, there had been some payment problems in the supplier chain, and second, we had not properly promoted ourselves.
Ali described the steps the government is doing to address the problems with exploration, including increasing the availability of data, removing obstacles to payment, and changing the laws.
The minister declared that the government’s primary goal is to increase its natural gas supplies.
“The power sector is another area of interest for us. In order to resolve the payment concerns, we are looking at transmission investments, encouraging renewable energy sources, and getting rid of cyclical debt in the power sector, the official said.
The interim minister mentioned that in December the government would release bids for offshore exploration.
According to Ali, Pakistan’s energy policy includes decarbonization and electrification as crucial elements.
“These two areas have not received the attention they merit in Pakistan, but there is currently a substantial emphasis on them. We are already concentrating on electrification, energy saving, and using natural gas as a fuel source for electric vehicles and appliances.
He told WAM that the Ministry of Energy was working on developing a comprehensive carbon policy, while the Ministry of Climate Change was establishing a carbon fund.