ABU DHABI (Reuters) - Pakistan does not anticipate any more major companies will pull out of the liquefied natural gas (LNG) projects after the exit of Exxon Mobil, a state minister said on the sidelines of an Abu Dhabi energy conference.
“The reason for that consortium to pull out can be within their own financial aspects that would be their own decision,” said Jam Kamal Khan, the country’s minister of state for petroleum.
“We don’t expect any more to pull out in fact investments are increasing.”
Exxon Mobil has pulled out of a major project in Pakistan, in a potential blow to plans to boost imports of LNG after years of winter shortages.
Differences among the six-member group behind the project in Port Qasim in Karachi mean other companies may also quit and join a rival scheme, Reuters reported last month, citing government officials and industry sources.
Reporting by Maha El Dahan; Writing by Saeed Azhar; Editing by Tom Arnold