OGRA chairman courts foreign investors for virtual LNG ventures

MG News | December 05, 2023 at 09:00 PM GMT+05:00

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December 05, 2023 (MLN): Oil & Gas Regulatory Authority (OGRA) is proactively taking measures to offer investment opportunities to foreign investors in the field of 'Virtual LNG' cargoes in Pakistan, Masroor Khan, Chairman OGRA highlighted during a meeting with Overseas Investors Chambers of Commerce (OICCI) today.

According to a post by OICCI, the chairman visited the OICCI to hold an interactive session with OICCI members.

This group comprises 33 companies, and a notable portion of them operate in the energy sector.

During the session, Masroor Khan shed light on the proactive measures taken by OGRA for the safety and security of the people from unregulated LPG sellers, as well as the investment opportunity for foreign investors.

The OGRA chairman further stated that 5 licenses have so far been issued to LNG dealers.

OICCI members also raised their concerns, such as, the recent gas tariffs increase of more than 200%, resulting in huge increase in cost of production and lack of robust mechanisms to penalize dealers/ operators engaged in illegal practices.

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