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Azerbaijan shows keen interest to invest in energy sector

Azerbaijan shows keen interest to invest in energy sector

ISLAMABAD: Azerbaijan on Wednesday showed interest to sign a long-term LNG supply agreement with Pakistan to serve the market that sees double digit growth annually in the fuel import.

Businessmen of Azerbaijan expressed keen interest in oil and gas exploration activities as well as opportunities in the LNG infrastructure in Pakistan and offered LNG supplies on a long-term basis.

A delegation of businessmen, led by Ambassador of Azerbaijan Ali Alizada, met with Minister for Energy Omar Ayub Khan.

“They expressed particular interest in oil and gas exploration activities in Pakistan along with offering LNG (liquefied natural gas) supplies on a long-term basis and opportunities in the LNG infrastructure of the country,” an official statement said.

Turab Musayev, head of LNG and business development at State Oil Company of the Azerbaijan Republic also accompanied the delegation.

“Pakistan is a brotherly country and was one of the first countries to recognize Azerbaijan after our independence.” said the Ambassador of Azerbaijan. He further said, “We would like to boost our economic ties with Pakistan, especially in the energy sector.”

Federal Minister for Petroleum Omar Ayub Khan appreciated the warm words expressed by the ambassador. He said, “Our government has an open door policy for business and investors.”

The federal minister asked the Azerbaijan side to explore investment opportunities in “gas distribution, exploration and renewable energy which we plan to take to 60% of our energy mix in the future.”