Pakistan, Azerbaijan to shortly start talks for petroleum products

Oil&Gas Materials 27 March 2018 13:14 (UTC +04:00)

Baku, Azerbaijan, March 27
By Leman Zeynalova – Trend:

Pakistan LNG Limited (PLL) is negotiating supply of Liquefied Natural Gas from State Oil Company of Republic of Azerbaijan (SOCAR) after the two countries signed an Inter-Governmental Agreement (IGA) last year.

"A Price Negotiating Committee (PNC) has been constituted with approval of Economic Coordination Committee of the Cabinet to discuss LNG pricing issues between PLL and SOCAR," official sources told Pakistani media.

Following the agreement, they said Pakistan had nominated Pakistan State Oil Company Limited (PSOCL), Pakistan LNG Limited (PLL), Pakistan LNG Terminal Limited (PLTL), Oil and Gas Development Company Limited(OGDCL), Pakistan Petroleum Limited (PPL) for negotiating sale and purchase agreement for petroleum products, LNG supply and establishment of LNG terminals.

Azerbaijani side nominated the SOCAR for the purpose.

The sources said draft of sale and purchase agreement for petroleum products had been prepared by PSO and negotiations in this regard were expected to start with SOCAR shortly.