Pakistan Cabinet of Ministers approves cooperation agreement with SOCAR

The Economic Coordination Committee of the Pakistan Cabinet of Ministers has held a session this week.

Report informs citing Pakistani media that the Committee approved the deal intended to be signed between the Pakistan State Oil Company (PSO) and the State Oil Company of Azerbaijan (SOCAR).

By the information, the Fuel Supply Agreement was submitted to the Committee by the Pakistan Oil Ministry.

Beside other spheres, Azerbaijan and Pakistan also plan to cooperate in the sphere of oil, oil products, liquid gas (LNG) and liquefied petroleum gas (LPG).

Notably, in April of 2016, the two countries agreed to cooperate in supply of oil, oil products, LNG and LPG at the sixth session of the Azerbaijan-Pakistan Intergovernmental Commission. Under the agreement, SOCAR Trading is to represent SOCAR in these relations.

The signing of an intergovernmental deal on attracting investments in the energy sectors of the two countries was also discussed. These investments mostly feature the reconstruction of the infrastructure and construction of oil and gas storages.