Pakistan to start receiving ‘cheaper’ LNG from Azerbaijan next month
Pakistan will start receiving liquefied natural gas (LNG) from Azerbaijan next month at a “cheaper price”. The deal was signed by Pakistan’s Petroleum Minister Musadik Malik and Azerbaijan’s Energy Minister Parviz Shahbazov in Baku on Tuesday. Pakistan to start receiving ‘cheaper’ LNG from Azerbaijan
Under the deal, Azerbaijan will supply Pakistan with one LNG cargo per month for a period of three years. The price of the LNG will be linked to the Henry Hub spot price, minus a discount. The discount has not been disclosed, but it is expected to be significant.
Pakistan is facing a severe energy crisis, and the new deal is expected to help ease the crisis. The country has been struggling to import LNG at a time when global prices have been rising. The new deal will help Pakistan to secure a reliable source of LNG at a lower price.
The deal is also a sign of growing cooperation between Pakistan and Azerbaijan. The two countries have been working to strengthen their ties in recent years. The new deal is expected to further boost the relationship between the two countries.
Here are some of the benefits of the deal for Pakistan:
- Cheaper LNG: The LNG will be supplied at a cheaper price than what Pakistan is currently paying.
- Increased energy security: The deal will help Pakistan to secure a reliable source of LNG.
- Boosted economic growth: The deal is expected to boost economic growth by reducing the cost of energy.
The deal is a positive development for Pakistan. It will help to ease the energy crisis, boost economic growth, and strengthen ties with Azerbaijan. Pakistan to start receiving ‘cheaper’ LNG from Azerbaijan