The logo of SOCAR is seen on a filling station in Bern, Switzerland May 10, 2016. Reuters
ISLAMABAD: The petroleum division on Monday said it did not avail the offer of Azerbaijan’s state-run company for import of liquefied natural gas (LNG) on credit because its price was ‘substantially expensive’ besides other challenges.
“Socar’s proposal was substantially higher than recent LNG agreement with Qatar Petroleum and spot LNG cargoes purchased through tenders,” the petroleum division said in a statement.
Pakistan’s ambassador in Baku Bilal Hayee had last week written back-to-back letters to the government saying the Chief Operating Officer of Socar had contacted him and expressed frustration on the prolonged silence and lack of response from the petroleum division over its offer of two separate credit lines of $120m for LNG and $100m for petroleum products for 60 days.
Azeri firm s LNG offer ignored because of being expensive: govt
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The logo of Socar Energy is seen at a company s gas station in Kyiv, Ukraine, October 6, 2017. Reuters
ISLAMABAD: Azerbaijan State Oil Company (Socar) has expressed frustration over the Petroleum Division’s prolonged silence over its offer of providing two credit lines of over $220 million for oil and gas supplies to Pakistan.
Informed sources told
Dawn that Pakistan’s ambassador to Baku, Bilal Hayee, had alerted the government back home to deal with the matter in a manner that did not unnecessarily cast shadow over close friendly relations between the two countries.
The two governments had agreed during a visit of Azerbaijan’s foreign minister to Pakistan in January to expand bilateral cooperation through oil and gas sector engagements to build upon strategically friendly relationship between the two countries.