Azerbaijan on Tuesday offered Pakistan to supply Liquefied Natural Gas (LNG) on the long term basis and expressed interest in infrastructure development of the commodity especially oil and gas exploration activities.
A delegation of Azerbaijan, led by Ambassador Ali Alizada, expressed the keenness during a meeting with Minister for Petroleum Omar Ayub Khan here.
Country head state-owned State Oil Company of Azerbaijan Republic (SOCAR), Azerbaijan’s largest oil and gas company operating in many countries, accompanied the ambassador.
The visiting delegation showed keen interest in exploring business and investment opportunities in Pakistan’s energy sector.
Pakistan has developed as an important LNG market in recent years that has attracted interest from various investors.
The envoy said Azerbaijan and Pakistan were enjoying cordial relations, adding his country wanted to boost economic ties specially in the energy sector of Pakistan.
Minister for Petroleum Omar Ayub Khan appreciated the warm words expressed by the ambassador. “Our government has an open door policy for business and investors. The government has taken important steps towards reducing cost of business in the country which has led to ease of doing business in the country. Pakistan believes in an open and competitive market and transparency,” he apprised the envoy.
The minister asked the Azerbaijan side to explore investment opportunities in “gas distribution, exploration and renewable energy which we plan to take to 60 percent of our energy mix in the future.” He also offered Azerbaijan access to the Gwadar deep seaport, an ultimate destination of China Pakistan Economic Corridor.
The ambassador apprised the minister of his government’s decision to award him a diplomatic medal in recognition of his kind service to further strengthen relations between both the brotherly countries.
The two sides exchanged souvenirs and a vote of thanks with an understanding to continue holding meetings and discussions in the future.