ENI Shows Interest in Pakistani LNG Space

Italian major ENI is interested in taking up LNG projects in Pakistan, company’s vice president Lapo Pistelli Wednesday.

Pistelli called upon Pakistani finance minister Ishaq Dar on Tuesday, according to local newspaper The Nation.

ENI plans to share concrete proposals with the Pakistani side as early as possible regarding various investment plans in the South Asian nation. The Italian company is interested in solar power and oil and gas projects as well.

Dar said on the occasion that in view of government’s increased focus on economic growth, it was his desire to fully encourage foreign investment in Pakistan, which, the newspaper added.

Pakistan has stepped up effort to attract foreign investment, especially in the energy sector. The government earlier this week approved the construction of Russian funded North-South gas pipeline. The pipeline will start from Nawabshah and end at Kasur, near Lahore.

Islamabad has also attracted Chinese investment in LNG terminal and other pipeline projects.  The Pakistani has been facing severe shortage of natural gas which has led to frequent power outages affecting industrial activity. To fill up the gap it has commenced import of LNG mainly from Qatar. Last month Islamabad and Doha signed a long term LNG contract after prolonged negotiations.