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US advises investors to explore energy sector

The US administration has joined the Pakistani government in urging American investors to invest in Pakistan, says the State Department.

In a statement issued here on Friday, the State Department said that Federal Minister for Petroleum Shahid Khaqan Abbasi and US Ambassador in Islamabad Richard Olson made this appeal at a recent conference in Houston, Texas.

They told representatives from international oil and service companies that Pakistan was an attractive place to invest, particularly in offshore gas exploration, equipment provision, and LNG supply.

The US Embassy in Islamabad organised a three-day trade mission in Houston this week, enabling Pakistani officials and businessmen to discuss exploration and production and LNG business opportunities with US and international firms.

More than 100 energy sector representatives participated in the trade mission.

The Houston Mayor’s office, which held a reception for the participants, highlighted the robust business and trade relationship between Pakistan and Houston (around $275 million annually) and the Houston-Karachi sister city relationship.

Mr Abbasi spoke about the government’s trade-not-just-aid policy in his interaction with US business representatives.

Pakistani delegates also visited sites that displayed cutting edge technology and equipment.

This is the first trade mission organised by the United States since the re-launch of the Strategic Dialogue and builds on the US-Pakistan business opportunities conference in Dubai in June.

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