Crude oil and LNG deal: Russian delegation arrives in Pakistan for talks

ISLAMABAD: Russian delegation arrived in Pakistan on Tuesday for three-day inter-governmental talks between Islamabad and Moscow on crude oil and LNG deal, besides reviewing progress on the multi-billion dollar natural gas pipeline project, ARY News reported.

Sources told ARY News that Finance Minister Sardar Ayaz Sadiq will lead the Pakistani side, while the visiting officials will be represented by the Russian Energy Minister.

Minister of State for Petroleum Musadik Masood Malik is likely to attend the meeting as discussions will take place on buying cheap crude oil and LNG from Russia under the Intergovernmental Commission (IGC) forum.

According to sources, both the countries are also expected to review the progress of Pakistan Stream gas pipeline project.

In addition, Islamabad and Moscow will also hold talks to enhance bilateral trade and investment between the two countries.

Yesterday, it was learned that Pakistan and Russia will hold talks on electricity, hydropower, renewable energy and cooperation on oil and gas production.

There are also in-depth discussions on boosting trade and investment, especially in agriculture, energy, education, IT and finance.

A delegation led by Oil Minister Musadik Malik visited Russia last year to discuss a deal to import oil at a cheap price.

The deal to import oil at a cheap price will help Pakistan save dollars and deal with soaring fuel prices.

The delegation led by Musadik Malik consisted of petroleum secretary Muhammad Mahmood and others will discuss cooperation between Islamabad and Moscow in the oil sector.

Earlier, the National Assembly was informed that a high-powered delegation will soon visit Russia to discuss any possibility of long-term cooperation in the acquisition of natural gas and oil.



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