Russia’s Largest LNG Producer Ready to Supply Gas to Pakistan
As Pakistan searches the market for LNG cargo to address its energy sector problems, the country is prepared to receive LNG from Novatek, the largest independent natural gas producer in Russia, according to a report by Russian News Agency on Monday.
According to the Company’s CEO Leonid Viktorovich Mikhelson, if Pakistan overcomes its tanker problems, the company is open to discuss spot-based LNG shipments to Pakistan. The senior executive stated, “We will be prepared to contemplate spot supplies if they resolve the tanker fleet issue.
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Since Moscow invaded Ukraine, Western importers are reluctant to sign long-term LNG contracts for Russian gas. Experts claim that major players in the energy sector, like Novatek, are increasingly focusing on markets in South Asia to make up for losses resulting from market blockades up north.
It should be remembered that since last year, Pakistan and Russia have had direct communication over petroleum buying agreements. Both nations decided on late March as the deadline for exporting crude oil in January 2023.
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