[News] Pak, China energy pipelines to contribute long-term economic interst of both sides: Masood Khan

BEIJING, June 14 (APP): Ambassador of Pakistan to China Masood Khan said here Monday that “Energy pipelines between Pakistan and China are feasible”.When asked to comment on a report appeared in today’s mass circulated English Daily that China is considering the construction of new pipelines through Myanmar and Pakistan to diversify its import routes, Ambassador Masood Khan said that “we are working on them.

One day this dream will become a reality”. Ambassador Khan made it clear that “Security situation in Pakistan should not be a cause for concern. It is a transient phenomenon. Pipelines will promote long-term economic interests of Pakistan and China”.
Securing stable, long-term oil supply is paramount and will drive China’s foreign policy over the coming decades, writes Hongyi Lai in its Comment “Sating resource appetite” in China daily.
An appetite for resources has long been a key determinant of Chinese foreign policy and recent figures detailing China’s crude imports have posed further daunting geopolitical challenges over how China can ensure its oil supply, said the report.
China’s crude oil imports leapt 31 percent in April, compared with the previous year, to hit a record 5.15 million barrels per day, reinforcing the likelihood of China surpassing Japan as the world’s second largest net oil importer in 2010.
An effective strategy deployed by China in the aftermath of the financial crisis was to secure a series of loan-for-oil deals at rock bottom prices, using a slice of its colossal foreign reserves.
A report last month by Chinese financial magazine Caixin said China was exploring further loan-for-oil agreements to add to the $60 billion in deals agreed since 2009.
The challenge for China not only lies in identifying stable sources of oil. It is also intent on establishing new ways to ship its oil imports into the country.
If this happens the route will be through Gilgit-Baltistan.

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