Pakistan, US explore new energy investment opportunities

Federal Minister for Petroleum Ali Pervaiz Malik met US Chargé d’Affaires Natalie Baker on Monday to discuss ways

Federal Minister for Petroleum Ali Pervaiz Malik met US Chargé d’Affaires Natalie Baker on Monday to discuss ways to strengthen bilateral cooperation in the energy sector and explore investment opportunities in Pakistan.

During the meeting, Malik briefed Baker on the government’s efforts to maintain energy security amid changing geopolitical circumstances. He said the ongoing conflict in the Middle East had created challenges for fuel availability, prompting Pakistan to take proactive measures to ensure uninterrupted supplies.

Baker congratulated Pakistan on managing its fuel supplies despite the challenging regional situation. She noted that the country had avoided fuel shortages amid disruptions and uncertainty in international energy markets.

Malik reaffirmed Pakistan’s commitment to securing its energy requirements and highlighted ongoing engagement between officials from both countries to identify areas of mutual cooperation.

He also pointed to Pakistan’s refinery upgradation programme as a potential investment opportunity for US financial institutions, noting that greater investment could support the development of the country’s energy infrastructure.

Baker expressed Washington’s willingness to work closely with Islamabad to address its energy needs. She stressed the importance of creating opportunities for American companies in Pakistan and voiced optimism about establishing long-term energy supply agreements that could benefit both countries.

During the meeting, the managing directors of Pakistan State Oil and Pakistan LNG Limited briefed participants on interest from US companies in supplying liquefied natural gas (LNG) to Pakistan.

Malik also invited American companies to participate in the upcoming Pakistan Minerals Investment Forum, highlighting the investment potential of Pakistan’s mineral resources and other economic sectors.

The petroleum minister appreciated US support and said stronger bilateral engagement could help Pakistan improve its energy security and meet its long-term requirements.

The meeting comes amid broader efforts by Pakistan and the United States to expand economic cooperation, particularly in energy, mining, minerals and information technology.

On October 25, Gilgit-Baltistan Chief Minister Advocate Amjad Hussain Azar said the United States had expressed interest in investing in the region’s energy sector. He also announced the establishment of a public-private partnership unit to facilitate such investment.

Pakistan has also been pursuing partnerships with US energy companies to increase domestic production. On September 2, Oil and Gas Development Company Limited (OGDCL) signed an agreement with US energy technology firm Baker Hughes to deploy its Mature Assets Solutions programme.

The initiative aims to improve output from ageing oil and gas fields through advanced technology, technical expertise and integrated production solutions. It forms part of OGDCL’s wider efforts to optimise production and increase the recovery of domestic hydrocarbon resources.

Baker Hughes described the agreement as an important development in US-Pakistan energy cooperation, emphasising the role of energy partnerships in strengthening economic security.

Separately, during a meeting between Finance Minister Muhammad Aurangzeb and US Secretary of Commerce Howard Lutnick in Washington on February 22, the United States expressed interest in investment opportunities in Pakistan’s information technology, mining, minerals and energy sectors.