With a Russian group delegation that will be visiting tomorrow, Pakistan will go through a long-term oil and LNG trading agreement as well as the $3 billion Pakistan Stream Gas Pipeline (PSGP).
Russian group will go to Pakistan: Top Energy Ministry officials have announced an 80-member team will arrive in Pakistan on January 17th. They will hold three days of sessions of the Inter-Governmental Commission (IGC).
“The Pakistani delegation to the IGC will be led by Sardar Ayaz Sadiq. Both nations must first negotiate an IGA (inter-governmental agreement), similar to the one that was signed in the case of the Pakistan Stream Gas Pipeline Project (PSGP), formerly known as the North-South Gas Pipeline Project before Russian oil and LNG can be imported on a GtG basis, they claimed.
Imran Khan visits Moscow, despite the PSGP agreement not being finalized. PSGP transaction planned for Imran-Putin meeting, but experts disagree on specifics. Agreement specifics prevent PSGP transactions from being signed during the meeting.
At the moment, the G7 nations cap Russian crude oil at $60 per barrel and forbid Russian oil ships. In response, Moscow prohibited oil sales to nations that complied with a Western price cap on its export.
Pakistan must take into account transportation costs, trader premiums, insurance, and payment during negotiations.
However, the IGC encourages trade and investment in the following sectors: finance, roads and postal service, transportation, energy, industry, education, research, and technology. We had been talking about Pakistan’s debt to Russia.
Cooperation in the production of oil and gas will be discussed by both sides. Renewable energy will be discussed by both sides. Hydropower and electric power will be discussed by both sides.