Baku, Azerbaijan, Jan.25
By Leman Zeynalova – Trend:
Pakistan’s State Minister for Energy (Petroleum Division) Jam Kamal Khan has briefed the country’s parliament on the process of implementation of the intergovernmental agreement signed with Azerbaijan on Feb.28, 2017 on import of petroleum products and liquefied natural gas (LNG), local media reported.
The minister said Pakistani side has nominated Pakistan State Oil Company Limited (PSOCL), Pakistan LNG Limited (PLL), Pakistan LNG Terminal Limited (PLTL), Oil & Gas Development Company Limited (OGDCL), Pakistan Petroleum to hold talks with Azerbaijan’s state oil company SOCAR on the agreement for sale and purchase of petroleum products, LNG supply, creation of LNG terminals and other issues.
He pointed out that draft term sale/purchase agreement for petroleum products has been prepared and negotiations thereupon are expected to start with SOCAR shortly.
“The price negotiation committee constituted by the PSO Board of Management would carry out the negotiations on behalf of PSO. Pakistan LNG Limited (PLL) was negotiating supply of LNG from SOCAR,” added the minister.
On February 28, 2017, Pakistan and Azerbaijan inked an intergovernmental agreement on energy cooperation, which includes LNG supply. Currently, Pakistan imports about 4.5 million tons of LNG per year.
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