ISLAMABAD-A Russian delegation headed by the Energy Minister will pay a two days visit Pakistan on January 19-20 to discuss import of cheap oil, from the former by the later, and other energy related matters.
The decision was made in a meeting which was held here Thursday between officials of Ministry of Energy of Pakistan and Russia, official source told The Nation. The meeting discussed progress on the purchase of Russian oil by Pakistan on discounted rate. The meeting also discussed import of LNG from Russia.
The meeting was held online between officials of Ministry of Energy of Pakistan and Russia. In the meeting, the issues of oil purchase from Russia were discussed, sources said. The source said that both sides discussed shipping and insurance issues related to the purchase of Russian oil. Financial arrangements for oil import were also discussed in the meeting.
The agenda of the next meeting of the Inter Governmental Commission of the two countries was discussed. It has been decided that Russian Energy Minister will pay a two-day visit to Pakistan on January 19-20 for the meeting of the Inter Ministarial Commission, the sources maintained. During the visit, issues related to the purchase of oil will be considered. The meeting of the intergovernmental commission between the two countries will be held on January 19. During the visit of Russian inter-governmental delegation headed by its energy minister, matters pertaining to energy import from Russia would be further discussed and given final shape for signing them into agreements. It is worth mentioning here that during the visit of Minister of State for Petroleum Musadik Masood Malik to Russia, Moscow had agreed to supply crude oil, petrol and diesel to Pakistan at discounted rates.
The disclosure was made by the state minister in a press conference. The minister also announced that both the countries have started negotiations for inking a long-term contract for the import of liquefied natural gas (LNG). He said that Russia has agreed to provide crude at a discount price to Pakistan. “The price will be what it is giving to other countries and might be less than that,” Musadik added. According to MoS, besides supply of crude oil the second understating has also been reached related to the supply of refined products to Pakistan. The minister said that Russia will provide both diesel and petrol to Pakistan at discounted rates. The third point raised with Russia was related to the import of LNG, the minister informed. “When we talked to the state owned companies of Russia they were out of LNG,” he stated. “The Russian government has arranged our meetings with its private companies and we have started our negotiations with those companies to get LNG on an urgent basis,” he said. The Russians are bringing new LNG by developing two new LNG producing facilities and they have invited us to start negotiations from now on making contracts for 2025-26 for LNG procurements, the minister said and added that negotiations on government-to-government basis in this regard had started. During the visit Pakistan had also discussed the pipeline projects with the Russian government and asked for a little flexibility, as Pakistan is facing various constraints, and assured that Pakistan is committed to executing these projects. Pakistan has two agreements with Russia, one is the Pakistan Stream Gas Pipeline (PSGP) and the other is an international gas pipeline.