Page 12 - GLNG Week 23 2022
P. 12
GLNG ASIA GLNG
SOCAR eyes investment of
$100mn in Pakistan’s LNG sector
INVESTMENT SOCAR has offered to invest $100mn in the various fields. “Partnership in the oil and gas
development of the liquefied natural gas (LNG) sector can be extended to other sectors such as
sector of Pakistan, according to the Associated tourism. Azerbaijan wants to transform frater-
Press of Pakistan. According to the agency, the nal relations into economic ties along the lines of
issue was discussed at a meeting between Azer- Turkish-Azerbaijani relations,” the news agency
baijani Ambassador to Islamabad Khazar Far- emphasises.
hadov and Pakistani State Oil Minister Musadiq “Pakistan’s huge potential in the oil and gas
Malik on 3 June. exploration sector and its decision to explore
“During a meeting with Malik, the ambas- ways and means to strengthen cooperation in
sador unveiled SOCAR’s investment proposal this regard was also discussed,” the news agency
regarding the LNG sector, including the creation wrote. Malik assured of his full support for the
of a terminal, the provision of short-term loans working groups on energy and said that a per-
and a deferred payment mechanism,” the agency son responsible for all issues of cooperation in
reported. “With the growing energy needs of the the energy sector would be appointed from the
country, such investments and partnerships rep- oil division.
resent a huge opportunity,” said the minister, as Farhadov on Twitter called the meeting with
quoted by the news agency. Malik fruitful. “We discussed the prospects for
During the meeting, the parties focused on bilateral relations between Azerbaijan and Paki-
strengthening relations between the two coun- stan, in particular, investment opportunities in
tries and expanding areas of cooperation in the energy sector,” he tweeted.
P12 www. NEWSBASE .com Week 23 10•June•2022
