Next week, the Pakistani government will engage in discussions with Moscowto explore a long-term arrangement for the reduced import of crude oil fromRussia.
This move comes as Pakistan aims to diversify its energy sources at moreaffordable rates. A delegation from Pakistan, led by interim EnergyMinister Muhammad Ali, will participate in the Russian Energy Week 2023event in Moscow from October 11 to 13.
Talks will revolve around securing Russian oil supply at a fixed rate of$60 per barrel, with discussions also encompassing LNG imports and thePakistan Stream Gas Pipeline (PSGP).
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The collaboration stems from a government-to-government agreement signedearlier this year to enhance Pakistan’s energy import options. Thisagreement has already resulted in significant imports of crude oil andliquefied petroleum gas (LPG) from Russia.