Pakistan Seeks Petroleum Products' Imports From Azerbaijan
Date
2/21/2023 2:15:03 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, Feb.21. Pakistan is in talks
with Azerbaijan to import Petroleum, Oil, and Lubricants (POL)
products on credit, as well as to agree on liquefied natural gas
(LNG) supplies at affordable prices, a senior official at
Pakistan's energy Ministry said, Trend reports via Geo News.
Reportedly, a delegation led by Pakistan's federal Minister of
State Musadik Malik is visited Baku on Feb.18 and will stay till
February 23.
Pakistan LNG Limited (PLL) seeks an agreement with Azerbaijan's
state oil company SOCAR on LNG cargo supplies at lower prices
compared to the current market prices.
LNG supplies to Pakistan do not fully cover the country's
growing fuel demand.
Pakistan's LNG import stood at 9 billion cubic meters in 2022,
showing a 20 percent decrease from 11.2 billion cubic meters in
2021.
SOCAR buys and sells LNG over a very wide geography, including
the Mediterranean basin, Asia and other regions. LNG is purchased
from third parties and forms part of the company's trade with third
parties and buyers. This product is not exported from Azerbaijan
due to the lack of direct sea access of Azerbaijan to the world
ocean.
---
Follow the author on Twitter: @lyaman_zeyn
MENAFN21022023000187011040ID1105607001
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.