Saudi delegation offers Pakistan partnership in three LNG projects

The delegation reached Pakistan on Sunday on a six-day visit to hold important meetings.

ISLAMABAD (Dunya News) – A high-level Saudi delegation has arrived in Pakistan and offered partnership in three Liquefied Natural Gas (LNG) projects.

The delegation reached Pakistan on Sunday on a six-day visit to hold important meetings with the high-profile officials on the matters pertaining to investment in the country and economic aid of $ 1.5 billion.

The main aim of the meeting with delegation is to discuss the prospect of setting up oil refineries in Gwadar and to sign an agreement to sell petroleum products to Pakistan.

Pakistan and Saudi delegation will sign a MoU to invest in the Balochistan Reko Diq gold and copper mines and to privatise two Liquefied Natural Gas (LNG) power plants.

The Saudi delegation will also visit the Gwadar port and Reko Diq project.

Information Minister Fawad Chaudhry informed that the Saudi delegation will include petroleum ministers as well as the Saudi finance minister and the energy minister.

It is pertinent here to mention that earlier this week, Pakistan and Saudi Arabia had signed “three grant agreements” to bring major investment in the country after the former invited the country to become the third partner in the China-Pakistan Economic Corridor (CPEC) plan.