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Pakistan is actively looking to strengthen its energy trade partnerships, with a specific focus on Central Asia and Turkmenistan. The goal is to establish Gwadar as an international energy hub, attracting investments from China and European countries to set up liquefied natural gas (LNG) plants and facilitate the export of fuel.
State Minister for Petroleum, Musadik Malik, highlighted Pakistan’s interest in becoming a trading partner with Central Asia, which he referred to as the “capital of energy.” He mentioned the proposal to bring gas through a pipeline from Turkmenistan, emphasizing the vast gas reserves in the country, comparable to those of Qatar. Pakistan is eager to offer the opportunity for China, Europe, and other countries to establish LNG plants in Gwadar, allowing for gas exports to various destinations.
Addressing rumors circulating on social media, Minister Malik denied that Russian crude oil supply to Pakistan came from India, clarifying any confusion regarding the origin of the oil.
While acknowledging the importance of short and long-term LNG supply deals, the state minister emphasized the need to strike such agreements due to the expected increase in LNG availability in the coming years. With the potential resolution of the Ukraine conflict, there could be an energy glut in the market, leading to a greater supply of LNG.
In a separate announcement, Minister Malik shared that an LNG purchase agreement framework has been established with Azerbaijan. This agreement is expected to alleviate Pakistan’s gas crisis and ensure an adequate supply for domestic consumers during the upcoming winter season. Azerbaijan will supply monthly LNG cargoes to Pakistan at a more affordable price, and the long-term agreement will facilitate the establishment of 9 to 10 LNG cargo factories in Pakistan this year. The cooperation between Azerbaijan and Pakistan in the oil and gas sectors will contribute to meeting Pakistan’s energy needs.
Regarding the concerns about gas shortages, Minister Malik assured the public that the government is taking measures to control the shortage during the winter season. He acknowledged infrastructure challenges in specific areas of Karachi and stressed the government’s commitment to resolving these issues promptly.
Minister Malik also highlighted the government’s plan to attract investments from Gulf Cooperation Council (GCC) countries as part of the Economic Revival Plan. He expressed optimism that these investments, amounting to billions of dollars, would create employment opportunities for the youth and women, contributing to the overall economic development of the country.
Regarding the International Monetary Fund (IMF), Minister Malik stated that Pakistan has fulfilled all the conditions for a staff-level agreement. The government remains hopeful that the IMF program will materialize soon, providing necessary financial support to address the country’s economic challenges.
Lastly, Minister Malik condemned the privileges and allowances granted to the Senate chairman, considering the severe financial crunch faced by the country. As a senator himself, he pledged to play an active role in objecting to these special privileges and advocating for fiscal responsibility.
Pakistan’s energy trade ambitions, along with the Azerbaijan LNG deal and efforts to attract investments, demonstrate the government’s commitment to addressing the country’s energy needs, improving infrastructure, and stabilizing the economy.
Post source: APP.
