Pakistan said on Friday that a Memorandum of Understanding (MoU)
for energy cooperation between Pakistan and China was aimed at
initiating studies to build an energy corridor for China to access
the oil and gas resources of the Central and Western Asia.
The MoU signed on April 27 also aimed to develop oil refining
and storages in the coastal areas of Pakistan, a foreign office
statement said.
The statement said that the agreement would also accelerate oil
and gas exploration activity in Pakistan.
"It will exploit Pakistan's coal and lignite resources for
increasing domestic energy supplies and for power generation though
cleaner coal technologies," it said.
The MoU would promote development of renewable energy resources
and capacity building in hydrocarbon research and development,
according to the statement.
The agreement would encourage private sectors as well as
financial institutions of both countries to participate in the
energy cooperation for realizing joint venture and investments, the
statement said.
It said that the Pakistan-China Energy Forum held in Islamabad
(April 25-27) was a significant milestone in identifying and
enhancing areas of mutual cooperation in the energy sector.
It also reflected the time tested and multi-facetted
relationship between Pakistan and China, the statement said.
(Xinhua News Agency April 29, 2006)
