The $60 billion CPEC is a key project of Beijing’s Belt and Road initiative.
Pakistan and China have agreed to work on four key projects for oil and gas cooperation including finalisation of feasibility study on South North Gas Pipeline Project by Power China International Group of Companies and upgradation of Pakistan Refinery Ltd, Karachi.
Top official sources told The News International on Wednesday that under the China-Pakistan Economic Corridor (CPEC) framework, among several projects that were discussed at the experts’ level, following were recommended to be considered, in the first instance, for early implementation under CPEC.
It included finalization of feasibility study on South North Gas Pipeline Project by Power China International Group of Companies; upgradation of Pakistan Refinery Ltd Karachi; coal to Liquid Engineering Plant based on Thar Coal at Thar Sindh; and both sides appreciated the concept to include Thar Block-VI for Coal gasification to Fertilizer projects under CPEC and desired to undertake a feasibility study for further evaluation.
Given the proposed projects to be helpful in development of oil and gas industry, the officials said that both sides agreed that these projects will be included in the “Development Plan for Pakistan Oil and Gas Industry”.
Both sides agreed to make the Development Plan more actionable for quality development of CPEC with ready projects.
The $60 billion CPEC is a key project of Beijing’s Belt and Road initiative that aims to connect Asia, Africa and Europe through a vast network of highways, rail lines and sea lanes.
The multi-billion dollar corridor connects the Chinese city of Kashgar with Pakistan’s Gwadar port on the Arabian Sea.
