ABU DHABI, 3rd October, 2023 (WAM) — Pakistan has a strong presence at ADIPEC this year, with around 10 companies from the exploration, oil marketing, and related sectors. “Indeed, it’s a promising start, and on the very first day, we have seen a remarkable response. All our companies are actively engaged, and there’s substantial interest in their offerings. The presence here is off to an excellent beginning,” the country’s Minister of Energy, Power and Petroleum stated.Muhammad Ali laid emphasis on decarbonisation and electrification, saying that they are critical components of Pakistan’s energy strategy for the future.”While these aspects may not have received sufficient attention in the past, there is now a strong focus on them. Initiatives include energy conservation, electrification efforts, and the re-purposing of natural gas for power generation to electrify appliances and vehicles.”On the decarbonisation front, efforts involve the establishment of a carbon fund by the Ministry of Climate Change an
d the development of a comprehensive carbon policy by the Ministry of Energy. The ultimate goal is to unite all stakeholders and maximise the potential of these initiatives,” he told the Emirates News Agency (WAM) in an interview during his participation in ADIPEC.Ali, Pakistan’s caretaker Minister, outlined three key priorities for the energy sector: First, addressing exploration challenges by improving data availability, removing payment barriers, and revising policies; second, expanding the natural gas supply; and third, focusing on the power sector, including transmission investments, promoting renewables, and resolving circular debt to ensure a stable power supply and payment resolution.Ali discussed the country’s plans to decarbonise its energy sector faster and together with partners in the Middle East. “Pakistan has not focused as much on decarbonisation as it should have in the past,” Ali said. “But now there is a huge focus on this.”Pakistan is working to develop renewable energy projects, improve e
nergy efficiency, and reduce its reliance on fossil fuels. He also said that Pakistan is looking to partners in the Middle East to help it achieve its decarbonisation goals.”The Middle East has very advanced technologies and players in the energy sector,” Ali said. “And Pakistan can benefit from their expertise.”ADIPEC is a major platform for collaboration between the global energy industry and governments. The event brings together decision-makers, experts, and investors to discuss the latest trends and challenges in the energy sector.Ali’s attendance at ADIPEC is a signal that Pakistan is serious about decarbonizing its energy sector. The country is looking to partners in the Middle East to help it achieve this goal.
Source: Emirates News Agency