Pakistan, China sign MoUs to improve cooperation in oil and gas sector


Beijing, April 9 (TNS): Pakistan and China have signed a Memorandum of Understanding (MoU) for North-South Gas Pipeline to ensure supply of affordable gas in areas currently showing increased demand for power generation and industrial use, state run media reported on Monday.

Prime Minister Shahid Khaqan Abbasi also witnessed the signing of the MoU between Inter-State Gas Systems of Pakistan and Power China at Sanya.

The Prime Minister also witnessed signing of another MoU between Pakistan State Oil and Power China for construction of up-country deep conversion oil refinery and laying of crude oil pipeline.

The project will help in reducing costs of petroleum products currently being transported through road from refineries in southern parts and also ensure uninterrupted supply.

Prime Minister Shahid Khaqan Abbasi says Belt and Road Initiative (BRI) of China is a message of progress and peace to the world.

The Prime Minister who is in China to attend Boao Forum Annual Conference for Asia in an interview with China Global Television Network, expressed the confidence that China-Pakistan Economic Corridor (CPEC) would equally benefit the two countries.

He said CPEC would accelerate the pace of economic development in Pakistan.

The Prime Minister will also hold bilateral meetings with Chinese and other world leaders on the sidelines of the BOAO Forum Annual Conference.

Courtesy:  China Global Television Network