Pakistan to host ‘energy roadshow’ in Saudi Arabia

KARACHI: Pakistan will organise a roadshow in Saudi Arabia to display its energy projects in an attempt to woo Saudi investors, The News learned on Saturday

A delegation of people from the public and private sectors working in Pakistan’s energy fields will visit Saudi Arabia next week. Petroleum Minister Dr Musadik Malik will lead the group.

Sources familiar with the development said that Pakistan and Saudi Arabia have been engaged in talks and consultations on cooperation in the energy sector for the last two and a half years. According to them, the latest development of the upcoming visit of the Pakistani delegation to Saudi Arabia is part of this years-long engagement, aimed at attracting investments in the energy sector.

Sources said that the delegation is likely to hold discussion on oil terminals; establishment of new refinery as well as upgrading existing refineries; and oil pipeline projects to persuade investors to tap into these projects.

Pakistan and Saudi Arabia have already signed 27 MoUs for cooperation in diverse fields, including in the field of energy.

Sources said that the country desperately needs to attract foreign investment, and the energy sector is one of the most lucrative sectors in this regard. This is so because the sector promises attractive returns. They added that Pakistan sees Saudi Arabia as a prime target for investment in the sector.

Per the sources, the next stop for the Pakistan delegation will be Russia and that soon after the visit to Saudi Arabia, the officials will arrange a trip to Russia to seek additional investments in the energy sector.