Azerbaijan, Pakistan to ink oil&gas supply agreement soon
Baku, Azerbaijan, Jan.30
By Leman Zeynalova – Trend:
Pakistan and Azerbaijan will formally sign a commercial agreement for supply of oil and gas products this February, Trend reports citing customnews.pk.
Reportedly, it would be a general governmental level agreement to allow companies to start talks and the business and trade would materialize only if found economically and logistically feasible.
Moreover, Federal Minister for Petroleum of Pakistan Ghulam Sarwar Khan said that Pakistan and Azerbaijan will constitute a joint working group on energy.
Ghulam Sarwar Khan said that Petroleum Division will try its best to get this agreement ratified from Economic Coordination Committee ECC and Cabinet so that mutual relation between both countries can be strengthened.
The two sides had entered into an inter-governmental agreement (IGA) in February 2017 for supply of a number of oil and gas products, including furnace oil, petrol, diesel and liquefied natural gas (LNG).
Azerbaijan is interested in investing in LNG sector through State Oil Company of Azerbaijan SOCAR.
Earlier it was reported that SOCAR became one of the winners of a tender for the supply of liquefied natural gas to Pakistan. Pakistan through Pakistan LNG Limited buys LNG via tenders and long-term contracts.
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