Russia and Pakistan All Set to Discuss Oil, LNG Imports Next Week

Pakistan and Russia are looking forward to discussing oil and gas deals at the 8th session of the Pakistan-Russia Inter-Governmental Commission (IGC) which will be held in Islamabad from January 18-20, next week.

Both parties are in close contact over oil and liquefied natural gas (LNG) deals, as well as Russian wheat imports.

The Russian delegation will be led by Russian Minister of Energy N G Shulginov, while Pakistan’s delegation will be led by Minister of Economic Affairs Sardar Ayaz Sadiq.

Both parties are likely to agree on taking the necessary steps to expand coverage to mutual markets, with the goal of significantly increasing bilateral trade. The two sides will reiterate their commitment to removing existing barriers and restrictions in mutual trade in goods, services, and capital movement, as well as refraining from imposing new ones.

Both parties are likely to move forward with the signing of previously negotiated Shareholders and Facilitation Agreements, as well as the incorporation of the joint Special Purpose Company for the Pakistan Stream Gas Pipeline Project as soon as possible.

The two sides will further deliberate on bilateral cooperation in the field of hydropower and renewable energy resources, while also welcoming Rosgeo, JSC’s interest in expanding cooperation with Pakistani state and private structures in the field of geological exploration for hydrocarbons and minerals.

The two sides will discuss avenues for continuing contracts to explore opportunities and prospects for mutually beneficial cooperation in the oil and gas sector in Pakistan and third countries, including the implementation of projects involving the introduction and use of Russian advanced technologies for the application of methods to increase oil and gas recovery at Pakistani fields.

The two countries are expected to discuss Ruschem Alliance, LLC’s (an affiliate of PJSC Gazprom) interest in Pakistan LNG Limited on long-term LNG supply cooperation.

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