US, Pak for sustained bilateral partnership in energy sector

Acknowledging the importance of a stable supply of energy in accelerating Pakistan's economic growth, officials of the US and Pakistan have agreed on a sustained bilateral partnership in the energy sector.
At a meeting of the US-Pakistan Energy Working Group, the United States committed to assist Pakistan's effort to privatise at least two power distribution companies by 2015 and announced technical assistance to help it increase production and maximise recovery from existing gas fields.
The meeting was co-hosted by Ambassador Carlos Pascual, the US Special Envoy and Coordinator for International Energy Affairs, Pakistani Ministers of Petroleum and Natural Resources Shahid Abbasi and of Water and Power Khawaja Asif and the US Ambassador in Islamabad Richard Olson.

These efforts build on the sustained and substantial efforts the US has undertaken to help Pakistan meet its critical energy needs, including adding 1,000 megawatts since 2009 to Pakistan's national grid - enough for over 16 million Pakistanis, the State Department said.
Additionally, Overseas Private Investment Corporation, the US government's development finance institution, is in the process of negotiating a USD 95 million loan to a prospective 50 MW wind power plant in southeastern Pakistan's Gharo-Keti Bandar Wind Corridor, it said.
The Energy Working Group meeting underscores the sustained bilateral partnership in the energy sector and the critical importance of a stable supply of energy in accelerating Pakistan's economic growth, the State Department said.

The Pak government is committed to expanding power generation, promoting energy efficiency and discussing ways to better use Pakistan's domestic natural gas, hydroelectric and renewable resources, it said.

Following the meeting here, the US has organised a Pakistani trade delegation later this week to Houston, to meet with major US oil and gas companies to facilitate investment from the private sector in addressing Pakistan's energy needs.
Abbasi highlighted the need to attract private-sector investment to catalyse domestic gas exploration and production in Pakistan.
Pascual welcomed the Pakistani government's commitment to undertake necessary reforms to improve efficiency in gas development, acquire liquefied natural gas (LNG) and increase domestic natural gas production.

The Pakistani delegation also met with Secretary of Energy Ernest Moniz, with whom they discussed potential collaboration in grid resiliency and the energy-water nexus.
The US Department of Energy invited their Pakistani counterparts to visit the National Renewable Energy Laboratory in Colorado next year to explore areas of further cooperation in research, and to share best practices.