Pakistan inks new agreement for fuel import to reduce reliance on Gulf States
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ISLAMABAD: Pakistan is poised to start oil and gas imports from Central Asian states as the Foreign Office has given the go-ahead to the signing of an agreement with energy-rich Azerbaijan, in a move that will lessen Pakistan’s excessive reliance on Middle Eastern countries.
At present, Pakistan is importing oil from Gulf Arab countries including the United Arab Emirates (UAE), Kuwait and Saudi Arabia. To meet gas needs, it is purchasing the commodity from another Gulf country.
A senior official of the Ministry of Petroleum and Natural Resources revealed that Azerbaijan had offered to export crude oil, petroleum products and liquefied natural gas (LNG) to Pakistan.
It has also expressed interest in constructing a terminal as well as LNG and liquefied petroleum gas (LPG) storages in a joint venture between Azerbaijan’s state oil company Socar and a Pakistan-designated company.
