Azerbaijan keen to invest in LNG sector: minister

31/01/2019 09:32 LNG

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Azerbaijan has shown interest in the liquefied natural gas (LNG) sector and planned to invest through State Oil Company of Azerbaijan Republic (SOCAR), a government official said on Wednesday.

In this regard, Pakistan and Azerbaijan will constitute a joint working group on energy, federal Minister for Petroleum Ghulam Sarwar Khan said during a meeting with Chingiz Coribhi, deputy head of mission of Azerbaijan, at the Petroleum Division.

 

The two sides had entered into an inter-governmental agreement (IGA) in February 2017 for the supply of a number of oil and gas products, including furnace oil, petrol, diesel and LNG.

 

The deputy head of mission said SOCAR’s activities include exploration of oil and gas, production, processing and transportation of oil, natural gas and gas condensate, as well as marketing of petroleum and petrochemical products in domestic and international markets.

 

Azerbaijan’s daily production of crude oil is approximately 860,000 barrels per day (bpd) and its annual gas production is approximately 29.4 billion cubic feet.

Source: thenews.com.pk

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