SOCAR discloses planned volume of LNG supplies to Pakistan

Oil&Gas Materials 29 July 2020 15:16 (UTC +04:00)
SOCAR discloses planned volume of LNG supplies to Pakistan

BAKU, Azerbaijan, July 29

By Leman Zeynalova – Trend:

Azerbaijan’s state oil company SOCAR will deliver 140,000 cubic meters of liquified natural gas (LNG) to Pakistan on August 27-28, Ibrahim Ahmadov, deputy head of the public relations and events department at SOCAR, told Trend.

He pointed out that SOCAR Trading international LNG supplies about three years ago.

“Today we buy and sell LNG over a very wide geography, including the Mediterranean basin, Asia and other regions. As you can understand, LNG is purchased from third parties and forms part of our trade with third parties and buyers. This product is not exported from Azerbaijan due to the lack of direct sea access of our country to the world ocean. Thus, the offer of LNG to Pakistan at a low price will in no way affect Azerbaijan's profit from the sale of its own natural gas. At the same time, this is another step towards maintaining productive and warm economic relations with this partner and our friendly country,” he said.

Ahmadov noted that SOCAR regularly supplies hydrocarbons to Pakistan and intends to continue this cooperation in the future.

SOCAR has offered the lowest price for a spot liquefied natural gas (LNG) cargo to Pakistan at 5.73 percent of Brent.

This is the equivalent to roughly $2.2 per million British thermal units, Kallanish Energy reports citing Pakistan LNG.


Follow the author on Twitter: @Lyaman_Zeyn