Reaffirming ExxonMobil’s presence in Pakistan
ExxonMobil delegates advanced business relationships while attending the first annual Pakistan Energy Reform Summit, which was held in Islamabad. The summit fostered and strengthened collaboration among senior government officials and industry experts to accelerate energy and power development in Pakistan via LNG imports.
In his keynote address, Irtiza Sayyed, President, ExxonMobil LNG Market Development, said, “The investment climate in Pakistan is primed for growth, and at ExxonMobil we are in the business of being the global partner to fuel that growth.”
A native of Pakistan, Sayyed stressed his pleasure and honor to help launch ExxonMobil’s re-entry into the country after its 27-year hiatus. “Pakistan is a very important market for ExxonMobil, and we are eager to bring natural gas to help power its strong projected growth,” he said.
In 2018, ExxonMobil signed a heads of agreement with Pakistani consortium Energas to support the development of Pakistan’s third LNG import terminal and to support securing the supply of LNG to Pakistan. ExxonMobil also has a cooperation agreement with Pakistan’s Universal Gas Distribution Company (UGDC) to help stimulate the compressed natural gas sector and supply LNG to the country.
Prior to the summit, the ExxonMobil team hosted a dinner with officials from the Pakistan government, U.S. Embassy, Energas and UGDC. The discussion amplified ExxonMobil’s presence and interest in doing business in Pakistan, and explored ways to help the country advance its vital energy sector.
“We applaud Pakistan for its efforts to advance a broad energy mix that balances affordability, access and environmental safeguards,” Sayyed said. “We look forward to progressing the development of the Energas LNG import terminal, ushering Pakistan into a new era of energy security as the first private LNG import terminal to be developed in-country.”