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Pakistan and Russia in Energy Supply Talks


Pakistan's junior oil minister and the petroleum secretary have flown to Russia for oil and gas supply talks according to Reuters sources.

  • The country has been struggling to buy gas shipments because of soaring prices while also struggling with higher oil markets. A lack of ability to secure LNG cargoes on international markets has led to shortages for both domestic and commercial users.
  • Pakistan Finance Minister Ishaq Dar last month said that the country is considering buying discounted Russian oil.
  • Russia is searching for new outlets for its fossil fuels, especially now western sanctions are ratcheting up and severely limiting its export volumes from December 5 when the EU oil ban takes place.

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