Pakistan seeks oil, LNG from Azerbaijan on credit

ISLAMABAD: Pakistan and Azerbaijan are in talks in Baku for the import of PoL products and Liquified Natural Gas (LNG) on credit, ARY News reported, citing sources.

A Pakistani delegation led by State Minister for Petroleum, Musadik Malik along with the delegation is in Azerbaijan to discuss the imported oil and LNG. The Pakistan delegation had been in Azerbaijan since February 18, 2023, and will stay till February 23.

Pakistan is interested to buy LNG cargo a month, the sources said.

A Pakistani delegation led by Musadik Malik is holding talks with the Azerbaijan State Oil Company (SOCAR) for the import of petroleum products and LNG at deferred payments.

Earlier, State Minister for Petroleum Musadik Malik said Russia would provide petrol and diesel to Pakistan at discounted rates.

“Russian visit remained more successful than we were expecting,” Malik had said while addressing a press conference in Islamabad.

The minister said Russia will export crude oil to Pakistan and diesel and petrol at discounted rates, which is good news for the country’s economy. “Russia will give the same discount to Pakistan as it is giving to the world on oil and petrol.”