US-based global energy giant ExxonMobil has signed a deal with a Pakistani private company Universal Gas Distribution Company (UGDC) to supply liquefied natural gas (LNG) on Wednesday, with the government planning to gradually move out of the import business.
“The deal is an honor for Pakistan and we will promote ease of doing business to promote investment in all the sectors including the energy sector,” Prime Minister on Petroleum Nadeem Babar said. He added that the government wanted to move out of the gas import sector gradually.
The agreement was signed in the American city of Houston between UGDC Chief Executive Officer Ghiyas Paracha and ExxonMobil Vice President Richard Rayfield, LNG Market Development Chairman Alex Volkov, and Market Development President Irtiza Sayyed.
ExxonMobil Country Manager Pakistan Shahrukh Mirza, senior officials of the petroleum ministry, and UGDC attended the ceremony.
Currently, natural gas is a major contributing fuel to the country’s energy mix. Its share in the primary energy mix is around 48 percent.
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17 November, 2019