Islamabad offers Baku new initiatives in oil, gas, investment Arab News Pakistan on Sharif’s meeting with Jabbarov

Prime Minister Shehbaz Sharif encouraged Azerbaijan to explore oil and gas investment opportunities in Pakistan.

The statement followed Sharif’s meeting with Azerbaijan’s Minister of Economy Mikayil Jabbarov on November 25, who is on a visit to Pakistan with a high-level delegation, Caliber.Az reports, citing Arab News Pakistan.

The Pakistani prime minister visited Azerbaijan in November to discuss bilateral cooperation in trade, energy and defence sectors. 

During the talks, the two sides conducted an “extensive review” of bilateral trade and investment cooperation, the Prime Minister’s Office (PMO) said about Sharif’s meeting with Jabbarov. It also said the two agreed on the need to accelerate efforts to diversify and deepen economic exchanges, with discussions covering defence production, petroleum and minerals, infrastructure development, dairy and livestock, hospitality and the information technology sectors.

“Prime Minister Sharif reiterated Pakistan’s proposal to establish a Pakistan-Azerbaijan Joint Investment Company with equal contributions from both countries,” the PMO said on Tuesday. “He also welcomed Azerbaijan’s interest in the White Oil Pipeline Project and encouraged SOCAR to explore upstream oil and gas opportunities in Pakistan.”

The White Oil Pipeline project, inaugurated in 2005, aims to facilitate the smooth transportation of oil between Karachi’s Keamari district and Mehmood Kot in Punjab, with the goal of reducing the traffic congestion caused by approximately 4,000 trucks and mitigating negative environmental impacts.

The project is managed by the Pak-Arab Pipeline Companies Limited (PAPCO) and is considered crucial for sustaining industrial growth and agricultural productivity, especially as energy demands in the country continue to rise.

Jabbarov thanked the Pakistani government for hosting the Azerbaijani delegation, hoping that ongoing engagements would culminate in the finalisation of the Roadmap on Cooperation in Commerce, Economy, Industry and Investment (2025- 2028) between the two countries.
Pakistan seeks to position itself as a key trade and transit hub by connecting landlocked Central Asian states to the global market via the Arabian Sea. Islamabad has also eyed partnerships with various countries around the world, hoping they can tap into its natural oil, gas and critical mineral reserves.

By Aghakazim Guliyev