Prime Minister Shahid Khaqan Abbasi and the Vice President of POWERCHINA Limited Li Yanming on Monday signed a Memorandum of Understanding (MoU) between Inter-State Gas Systems (ISGS) of Pakistan and Power China for laying of North-South Gas Pipeline.
The MoU was signed in a simple ceremony held in Sanya, a City on the southern end of China’s Hainan Island.
The North-South gas pipeline would serve as a secure and continuous supply of affordable gas in areas currently showing increased demand for power generation and industrial use.
The prime minister also witnessed signing of another MoU between Pakistan State Oil (PSO) and Power China for construction of up-country deep conversion oil refinery and laying of crude oil pipeline.
This project will help in reducing costs of petroleum products currently being transported via road from refineries in southern parts and also ensure uninterrupted supply.
The Foreign Minister Khawaja Asif, Pakistan’s Ambassador to China Masood Khalid, the Chinese Ambassador to Pakistan Yao Jing and senior officials were also present on the occasion.
The prime minister is in China to lead the Pakistan delegation at Boao Forum Annual Conference for Asia to be held in Boao (Hainan), China from April 8-10, 2018.
The main theme of the Boao Forum Conference is “An Open and Innovative Asia for a World of greater Prosperity”.