Azerbaijan to Export Low-Cost LNG to Pakistan From July Onwards

According to a statement from the Prime Minister’s Office (PMO), Azerbaijan agreed on Thursday to start exporting LNG cargoes to Pakistan at discounted rates starting next month.

Prime Minister Shehbaz Sharif met with Azerbaijan President Ilham Aliyev during his two-day trip across the continent, and the two men decided that Baku will begin shipping LNG cargoes to Pakistan in July, with one cargo expected to arrive in Pakistan each month.

A comprehensive framework for tariff exemption for Pakistani rice shipments to Azerbaijan was also agreed upon by both parties.

According to a statement from the PMO, the prime had told Aliyev that Pakistan State Oil and the State Oil Company of the Azerbaijan Republic (SOCAR) would collaborate on energy resources. Government to government cooperation on energy resources is anticipated between the two companies.

To highlight their long-standing close ties, the two sides have also decided to increase their bilateral cooperation in the areas of energy, trade, and aviation.

An Agreement of Understanding between Pakistan and Azerbaijan was also signed in order to advance their mutual cooperation, particularly with a view to boosting energy trade. PM Shehbaz was present when the agreement was signed by Azerbaijan’s Economy Minister Mikayil Jabbarov and Pakistan’s Minister of Commerce Syed Naveed Qamar.