Pak-Russia oil, gas talks from today

ISLAMABAD: A high-level inter-governmental three-day meeting between Russia and Pakistan will start on Wednesday (today) to discuss the modalities for Moscow’s supply of crude and liquefied natural gas (LNG) at discounted prices to Islamabad and also the construction of a multi-billion-dollar gas pipeline project in Pakistan.

A high-powered Russian delegation arrived in Pakistan on Tuesday and would start talks on January 18 (Wednesday) to negotiate bilateral trade and technical cooperation. Federal Minister for Commerce Ayaz Sadiq will lead the Pakistani delegation in the talks with the Russian delegation led by its energy minister Nikolay Shulginov. Minister of State for Petroleum Mussadiq Malik and other officials would also participate in the session.

The two sides are poised to chalk out deals for cheap crude oil, petrol, diesel, and LNG while matters of foreign investment and mutual trade would also be discussed. Crude oil and other products will be provided under a government-to-government (G2G) arrangement. The two sides will also exchange views on strategies to amplify trade and investments, especially in agriculture, energy, education, IT and finance. During the ongoing fiscal, Pakistan has procured $7.7 billion of energy products from the global market.