Pakistan’s decision to buy cheap LNG from Azerbaijan

Islamabad: The federal government has decided to buy cheap LNG from Azerbaijan.

According to the document, there will be an agreement between Pakistan LNG Limited and Sokar, the state-owned company of Azerbaijan. 1 LNG cargo per month will be purchased from the state-owned company of Azerbaijan. Prime Minister Shehbaz Sharif has given approval to present the summary in ECC.

Payments will be made in dollars to PLL SOCAR and PLL will open LCs in local bank for payment. Spot cargoes from June 2022 are facing difficulties.

Last year, PLL failed to purchase cargo under the existing Ormidterm contract. An intergovernmental agreement for the purchase of LNG between Pakistan and Azerbaijan has been concluded.