Russian companies are ready to participate in new oil and gas projects in Pakistan. The countries agreed to jointly develop deposits and modernization of oil refineries, which will strengthen the region’s energy security.
At the 10th meeting of the Russian-Pakistani intergovernmental commission in Islamabad, the parties identified specific areas of partnership. The Russian delegation was led by Energy Minister Sergei Tsivilev, and the Pakistani delegation by Energy Minister Akram Leghari.
The key direction will be intelligence and hydrocarbon production. Russian companies are exploring prospects for participation in new projects on land and offshore. Negotiations intensified following Pakistan’s recent issuance of 23 licenses to local companies OGDC, PPL and Mari Energies. The creation of joint ventures is being considered, including between Gazprom and the Pakistani OGDC.
An important area of cooperation will be the modernization of oil refineries. Russian specialists are ready to participate in the technical renovation of five large refineries with a total capacity of 20 million tons per year. The main focus will be on increasing the depth of oil refining, which will increase production efficiency.
Negotiations on supplies of liquefied natural gas are ongoing. Companies from the two countries are clarifying commercial terms and supply volumes. Pakistan is actively diversifying its energy sources by including long-term contracts in its portfolio.
Transport cooperation is developing – the parties are preparing a test launch of a freight train along the eastern route of the international corridor. The route will pass through Kazakhstan, Uzbekistan, Turkmenistan, Iran and Pakistan with the prospect of reaching India. The first cargo will be agricultural products, then petrochemical products.
The countries are also developing a road map for economic cooperation until 2030, which will determine the long-term prospects of the partnership.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology.
Source: @menteetmalleo
