Azerbaijan, Pakistan ink framework agreement for LNG procurement
Pakistan has signed a framework agreement with Azerbaijan for the import of low-cost liquefied natural gas (LNG) on flexible terms for a period of one year, Prime Minister of Pakistan Shehbaz Sharif said, News.Az reports.
The agreement was inked between Pakistan LNG Limited (PLL), a state-owned entity mandated to procure LNG, and the State Oil Company of Azerbaijan (SOCAR), in Lahore, with Pakistani PM Shehbaz Sharif in attendance.
Under the deal, Azerbaijan will offer Pakistan 12 low-cost LNG cargoes per annum.
Describing the agreement as a major milestone in fraternal relations between Pakistan and Azerbaijan, PM Shehbaz Sharif hailed Azerbaijani President Ilham Aliyev’s special attention to the development of these ties.
The framework agreement was signed by PLL Managing Director Masood Nabi and SOCAR Trading Chief Executive Officer Maryam Almaszade.