ISLAMABAD - Executive Vice President for Shell Energy, Steve Hill has visited Pakistan to meet key stakeholders and look at LNG opportunities in the country.

A dinner was hosted for him by Thomas Drew CMG, the British High Commissioner, and was attended by Jam Kamal Khan, Minister of State for Petroleum & Natural resources.

British High Commissioner Thomas Drew said: “Shell is a significant investor in Pakistan with a long track record of working alongside the government of Pakistan to develop the downstream oil sector with investments in pipelines, refining and distribution. I am delighted that Shell is exploring further opportunities in LNG to meet Pakistan’s energy requirements. The British government is delighted at the prospect of further UK foreign direct investment strengthening Pakistan’s economy for the benefit of both our countries.”

Country Chairman Shell Pakistan Jawwad Cheema said: “Shell has a legacy of over a hundred years in the region. Since Pakistan’s inception, Shell has played an integral role in developing the country’s energy landscape while proudly serving the energy needs of millions of customers across the country every day. We believe that the supply of natural gas, the cleanest fossil fuel, can help meet Pakistan’s growing energy needs and we look forward to bringing LNG to Pakistan. Shell is a worldwide leader in LNG and we bring credible gas and LNG expertise and experience to develop the Pakistan market and offer secure and competitive supply from one of the world`s largest LNG portfolios.’

Earlier in the day, Steve Hill alongside prospective consortium partners met with Prime Minister Shahid Khaqan Abbasi to discuss opportunities in the energy sector. Pakistan is facing declining domestic gas production. To bridge the supply-demand gap, the government of Pakistan (GoP) introduced the LNG Policy with the objective of facilitating and incentivizing LNG imports in Pakistan. In August this year, the Prime Minister inaugurated the second LNG gas terminal at Port Qasim Karachi and said that Pakistan wants to increase its LNG gas handling capacity to 30 million tones per year in five years.

On 01 July, 2016, Shell, Engro Elengy Terminal Limited, Gunvor Group and Pakarab Fertilizers Limited (a Fatima Group company) had signed a non-binding Cooperation Agreement (JCA) to assess the feasibility of, and develop a full service 600 mmcscfd (4.5 mpta) LNG re-gasification terminal at Port Qasim, Karachi. This will be the first ever private LNG terminal in Pakistan.