BAKU, Azerbaijan, June 21. Pakistan's liquefied natural gas (LNG) purchase agreement framework with Azerbaijan would effectively resolve the gas crises, ensuring that domestic consumers would not face any gas shortages during the upcoming winter season, said Pakistan’s State Minister for Petroleum Musadik Malik, Trend reports.
During an interview with a private news channel, he stated that Azerbaijan would supply a monthly LNG cargo to Pakistan at a more affordable price. Elaborating on the LNG cargo arrangement, he mentioned that, as per the long-term agreement between Pakistan and Azerbaijan, the country would receive approximately 9 to 10 cargo shipments this year. This collaboration with Azerbaijan would aid Pakistan in meeting its energy requirements in the oil and gas sectors.
When questioned about the gas shortage issue, he assured that measures would be taken to effectively manage gas supply during the winter season, mitigating any potential shortages.
The initial duration of the agreement will be one year, with the possibility of a one-year extension. Under this agreement, Azerbaijan’s state oil company SOCAR will provide one LNG cargo per month, with an offer made 45 days prior to the relevant delivery window. Each cargo offer will have a specified validity period, during which PLL can accept or reject the offer. The pricing of LNG will be denominated in US dollars and offered by SOCAR to PL
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