Pakistan has successfully secured a second liquefied Natural gas (LNG) cargo from the State Oil Company of Azerbaijan Republic (SOCAR) which was due according to the landmark purchase agreement signed between both the states in the middle of last year. The shipment has been received despite Qatar’s Prime Minister’s concerns regarding the affect of tensions in the Red Sea on LNG deliveries.
The energy Ministry issued a statement regarding the topic saying, “Ministry of Energy (Petroleum Division) and Pakistan LNG Limited (PLL) are pleased to announce the successful procurement of a second LNG cargo from the State Oil Company of the Azerbaijan Republic (SOCAR) under the Government-to- Government Framework Agreement between PLL and SOCAR”.
The framework agreement that was signed between both the countries is considered to be a major milestone in terms of betterment of energy related trade and availability of resources for both the states. The agreement states that SOCAR will offer one LNG cargo to PLL per month considering the demand of LNG by the country for commercial and non commercial purposes to ensure a smooth and stable supply of LNG which will be supervised by PLL.
More than half of the LNG requirements of Pakistan are being met through long term import contracts with Qatar while the gas deficit is met through cargo purchases.