Russian Energy Minister to arrive in Pakistan for oil talks

• Russian Energy Minister Nikolay Shulginov will arrive in Pakistan
• He will co-chair the 8th session of the IGC on trade and cooperation
• Russian delegation will negotiate on discounted oil and LNG deals

ISLAMABAD: Russian Energy Minister Nikolay Shulginov will arrive in Pakistan tomorrow (Wednesday) on a two-day visit to hold talks on bilateral trade and economic issues.

A high-level Russian delegation arrived in Pakistan on Tuesday but the Russian minister was not present, diplomatic sources said. Russian Ambassador to Pakistan Danila Ganich and officials of the Russian Embassy will welcome the minister.

He will co-chair the 8th session of the Inter-Governmental Commission (IGC) on trade and cooperation scheduled to take place from 18-20 January. Minister for Economic Affairs Sardar Ayaz Sadiq will lead the Pakistani team.

The delegation, comprising 80 members, will hold bilateral talks on the oil and liquefied natural gas (LNG) trade deal for a long-term basis and the Pakistan Stream Gas Pipeline (PSGP) project.

The delegation will negotiate on discounted oil and liquefied natural gas (LNG) deals during their visit. The purchase of crude oil and petroleum products at discounted rates from Russia and buying gas will also be discussed

The technical teams of both countries will discuss matters related to trade and investment, agriculture, energy, customs, industry, education, science and technology, information and communication technologies, communication (roads and postal service), railways and finance.

Last month, State Minister for Petroleum Musadiq Malik announced that Russia had agreed to provide crude oil at discounted prices, a development that could potentially bring down the energy import cost for Pakistan.

He said an inter-governmental delegation led by the Russian energy minister will visit Pakistan next month to sign the agreement on buying crude oil, petrol and diesel at discounted rates.

Earlier Federal Minister for Finance Ishaq Dar had met United States officials and raised the issue of oil purchase from Russia amid sanctions.

Dar said he told American authorities that Washington could not stop Pakistan from buying the commodity from Russia because neighbouring India has also been doing the same.

Pakistan and Russia are already in close contact on oil and LNG deals in addition to import of Russian wheat. Malik has recently undertook an official visit to Moscow for an oil deal.

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