Oil and gas purchases from Russia, significant progress in negotiations

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Islamabad: Important progress has been made on the issue of purchase of cheap oil and gas from Russia by Pakistan, the first round of negotiations between Pakistan and Russia has been completed.

According to the details, the first round of three-day negotiations on the Pakistan Stream gas pipeline on the issue of buying cheap oil and LNG from Russia was successful.

The three-day meeting was chaired by the Russian Minister of Energy, Nikolai Shalganov, while Pakistan was represented by Sardarayaz Sadiq, on the issue of determining the procedures for the purchase of 30% of crude oil and other products from Russia.

In this regard, the sources say that in the technical session of the talks, data related to various fields were exchanged on behalf of the two countries.

According to the sources, during the talks, information was provided regarding the import price of oil and gas from Russia, the preparation of short, medium and long-term road map of oil and gas was discussed.

This Pakistani delegation provided oil and gas supply and demand data in the country, consensus was reached to prepare a working paper on oil and gas supply conditions, price, quantity.

According to the sources, today the first day of negotiations were held at the level of experts, which are being held at the level of the intergovernmental commission, while the ministers of the two countries will also participate in the meeting tomorrow.

read more : Purchase of oil and gas from Russia: Negotiations will be held today

It should be remembered that in case of purchase of cheap petroleum products from Russia, Pakistan will save two billion dollars of foreign exchange annually. Pakistani refineries have made it possible to produce petroleum from Russian crude oil, agreements for the purchase of petroleum products and gas are expected in the meeting to be held from January 18 to 20.