Pakistan Observer: Azerbaijan invests in LNG production

Pakistan's Minister of State for Petroleum Musadik Malik announced Azerbaijan's proposal to invest $100 million in the Islamic Republic's liquefied natural gas (LNG) sector.

Azerbaijani Ambassador to Pakistan Khazar Farhadov, during a meeting with Dr. Malik, presented an investment proposal of the oil state company SOCAR, which relates to the construction of an LNG terminal, Pakistan Observer reported.

"Given the country's growing energy needs, such investments and partnerships offer great opportunities," the minister said.

At the meeting, the two sides also focused on strengthening fraternal relations between the two states and expanding areas of cooperation.

"In addition to partnership in the oil and gas sector, cooperation can be expanded in other sectors such as tourism. Azerbaijan wants to transform fraternal relations into economic ties on the model of Turkish-Azerbaijani cooperation," a press release from Pakistan's Minister of State for Petroleum said.

The minister assured his full support for the joint working groups on energy and noted that the oil department will appoint a coordinator for all cooperation in the energy sector.

The meeting also discussed Pakistan's impressive potential in the oil and gas exploration sector, and it was decided to explore ways and means to strengthen cooperation in this regard. The ambassador praised Pakistan's unconditional support for Azerbaijan during the Second Karabakh War and expressed hope for the strengthening of bilateral relations. Farhadov noted that direct flights from Islamabad to Baku, which will begin in June, will lead to increased contacts between people.