Russia’s largest independent natural gas producer Novatek is ready tosupply liquefied natural gas (LNG) to Pakistan as the country is scramblingfor LNG cargo in the market to solve its energy sector woes, Russian NewsAgency reported on Monday.
The Company’s CEO Leonid Viktorovich Mikhelson told reporters that thecompany is willing to consider spot-based LNG supplies to Pakistan if thecountry resolves its tanker issues. “If they [Pakistan] solve the issuewith the tanker fleet, then we will be ready to consider spot deliveries,”the top executive said.
Western importers are unwilling to pen long-term LNG agreements for Russiangas since Moscow’s invasion of Ukraine. According to experts, energy sectorgiants like Novatek are now turning to South Asian markets to offset lossesfrom blockades in markets up west.
Read Top Stories
It may be noted that both Pakistan and Russia have been in direct contactover fuel procurement deals since last year. In January 2023, bothcountries agreed on late March as the timeline for crude oil export.
