ISLAMABAD: The nation’s deputy oil minister and the petroleum secretary have flown to Russia for talks on issues including oil and gas supplies, two people close to the matter told Reuters on condition of anonymity.
The trip comes as the nation struggles to meet domestic gas supply needs as winter approaches while battling to contain a current account deficit swelled by energy payments, mostly for oil.
Musadik Malik, minister of state for petroleum, did not immediately respond to a request for comment on Monday.
The sources provided no further details, such as the exact agenda, who the officials would meet in Russia or when the talks will take place.
Finance Minister Ishaq Dar last month said the country is considering buying discounted Russian oil, pointing out that neighbour India has been purchasing oil from Moscow and Islamabad also has a right to explore the possibility.
India’s imports of Russian oil have rocketed from a very low base at the start of the year reaching a peak in June and July and largely maintaining these levels through to October. New Delhi has defended its purchases from Russia, maintaining it has to source oil from where it is cheapest.
The United States had been critical of these purchases, although it’s now made clear that it accepts that India can continue to buy discounted Russian oil.
Pakistan has been unable to procure Liquified Natural Gas (LNG) from the international market because spot prices remain out of its range and shipments under long-term deals remain insufficient to match rising demand.
With dwindling local gas reserves, the country has begun to ration supplies to residential and commercial consumers. The media has also reported that oil supplies remain tenuous owing to difficulties in paying for imports.
