Socar Trading — a commercial arm of the State Oil Company of Azerbaijan Republic — has offered a supply of petrol and LNG cargoes to Pakistan LNG Ltd (PLL) and Pakistan State Oil (PSO) round the year on credit under a government-to-government (G2G) arrangement to build upon the strategically friendly relationship between the two countries.
Report informs, citing the Pakistani press, that Azerbaijan is a significant oil and gas producer and operates some oil and chemical refineries in many countries.
Socar Trading, which has won the tender and confirmed the delivery of an LNG cargo on Feb 15-16 window, was surprised to hear a reference to default on this delivery as no such action has taken place, and the load was scheduled to arrive in Pakistan as contracted.
A Socar Trading spokesperson confirmed that Socar had offered petrol and LNG supplies on a long-term basis, and the offer was based on commercially acceptable terms to both sides and never involved any undue pressure applied by any of the parties.