Pakistan intends to start importing oil from Russia in April
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Pakistan plans to start importing Russian crude oil in April after the parties agree on commercial terms of delivery, including the use of a currency other than the dollar. This was announced by the State Minister of Oil Musadik Malik.
“In March, all commercial terms of the agreement with Russia will be agreed, after which cheap crude oil will begin to flow to Pakistan. It will be beneficial for both countries,” said Mr. Malik, whose words are quoted by The News.
In addition, Pakistan, in accordance with the agreement with Russia, has begun to develop a comprehensive energy security plan, which will be implemented by the end of 2023. “Crude oil, liquefied natural gas (LNG), gasoline and other fuels will be included in this strategy and it is expected that this will increase Pakistan’s energy security and fuel supplies will be available at affordable prices,” he said.
Mr. Malik also noted that in the next winter season, in accordance with another bilateral agreement, Pakistan will be able to carry out spot purchases of LNG from two companies that are approved by the Russian government.
January 20 Deputy Minister of Energy of the Russian Federation Sergey Mochalnikov informed about reaching “conceptual agreements” on the supply of Russian oil and oil products to Pakistan. Moscow and Islamabad are also continuing discussions on the construction of the Pakistan Stream gas pipeline, which will link LNG receiving terminals in the ports of Karachi and Gwadar in southern Pakistan with power plants in Kasur district in the north of the country. Its length will be about 1.1 thousand km, the throughput capacity will be 12.3 billion cubic meters. m per year.
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