ISLAMABAD: Azerbaijan offered Pakistan to supply Liquefied Natural Gas (LNG) on a long-term basis and expressed interest in infrastructure development of the commodity especially oil and gas exploration activities.
A delegation of Azerbaijan, led by Ambassador Ali Alizada, expressed the keenness during a meeting with Minister for Petroleum Omar Ayub Khan on Tuesday.
The country head of State Oil Company of Azerbaijan Republic (SOCAR) in Pakistan also accompanied the ambassador during the meeting. The company is Azerbaijan’s largest oil and gas company operating in many countries with a focus primarily in Europe and Asia.
The visiting delegation showed keen interest in exploring business and investment opportunities in Pakistan’s energy sector. They expressed particular interest in oil and gas exploration activities in Pakistan along with offering LNG supplies on a long term basis and opportunities in the LNG infrastructure of the country.
Pakistan has developed as an important LNG market in recent years that has attracted interest from various investors.
The ambassador of Azerbaijan remarked that Pakistan is brotherly country which was one of the first countries to recognise after their independence. He expressed interested in boosting economic ties particularly in the energy sector of Pakistan.
Petroleum minister said the government has an open door policy for business and investors. He said that important steps have been taken towards reducing cost of business in the country which has led to ease of doing business in the country.
The federal minister asked the Azerbaijan side to explore investment opportunities in gas distribution, exploration and renewable energy which the government plans to take to 60 percent of the energy mix in the future. He also offered Azerbaijan access to the Gwadar port.
The ambassador apprised the federal minister of his government’s decision to award him a diplomatic medal in recognition of his kind service to relations between both the brotherly countries. The sides exchanged souvenirs with an understanding to continue discussions in the future.
