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Pakistan Turns to Russia For Energy Supplies

OIL

Pakistan’s government is in talks with Russian companies over LNG supplies, while the government has secured Russian crude oil supplies at a discount, Pakistan’s Junior Pakistan’s Junior Petroleum Minister Musadik Malik said, according to Bloomberg.

  • Pakistan has secured crude, gasoline and diesel from Russia at a discounted rate, in line with discount rates to other countries, the minister said.
  • In Pakistan’s most recent talks with Russia, the country requested to buy crude oil at a 30-40% discount, which has been rejected by Moscow.
  • The government has also been in talks with Russian LNG companies, to fill the country’s gas shortage.
  • Pakistan and Russia have been in talks for energy supply in late November, as an inability to secure LNG cargoes on international markets has led to shortages for both domestic and commercial users in Pakistan.
  • In mid-November, Pakistan has been in talks for an additional December LNG cargo, which fell through.
Energy BulletsCommodities
Energy BulletsCommodities

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