Pakistan asks Kuwait to invest in 2 gas and refined oil pipeline projects

Jul 18, 2000 02:00 AM

Pakistan's Petroleum and Natural Resources Minister, Usman Aminuddin, said that his country had asked Kuwait to invest in 2 gas and refined oil product pipeline projects costing a total of up to $ 1.4 bn. The oil-rich Gulf state has yet to respond to the Pakistani invitation, the visiting minister said after talks with top Kuwaiti officials.
Each of the 2 pipelines is expected to cost between $ 600 and 700 mm, the minister said. Officials said that potential investors, including Kuwait and other countries, would be offered a stake of up to 49 % of each project on joint venture terms, while the rest will be held by the state. The refined oil products pipeline is designed to carry material from the southern refinery that would be commissioned in September to northern parts.
Aminuddin said Kuwaiti officials had reassured him that every effort would be made to supply his country with refined oil products despite the shutdown of the 441,000-bpd al-Ahmadi refinery due to a fire since June 25. "Wehave been reassured that Pakistan is receiving most-favoured-nation treatment and consequently every effort despite the disruption of the refinery operations will be made to meet our requirements," Aminuddin told.

Pakistani officials said the state-owned Kuwait Petroleum Corp. KPC had assured Pakistan's Ministry of Petroleum and Natural Resources that it would supply gas oil and other petroleum products to Pakistan in August and September as per its yearly-term agreement. Analysts have said that Aminuddin's visit was also significant in the context of ongoing background talks between Pakistan and Iran's NIOC to start supplying gas oil to Pakistan.

Source: Bridge News via Newspage
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