SOCAR Trading, trading house of Azerbaijan’s state oil company SOCAR, intends to become one of the biggest suppliers of liquefied natural gas (LNG) to Pakistan in the future, SOCAR Trading told Trend.
"SOCAR Trading is still interested in becoming one of the main LNG suppliers to Pakistan both through tenders and within a long-term agreement," the company said. "This country is one of the fastest growing importers of this type of fuel in the world."
Earlier it was reported that SOCAR became one of the winners of a tender for the supply of liquefied natural gas to Pakistan. Pakistan through Pakistan LNG Limited buys LNG via tenders and long-term contracts.
"For the tender held in July 2018, SOCAR Trading submitted proposals on two long-term options put forward by Pakistan LNG Limited," the company said. "One of our proposals was the most competitive at that time of supplies."
"But Pakistan LNG Limited decided not to provide the winners with these options within the tender rules," the company said. "At the same time, SOCAR is the company selected for LNG shipments to Pakistan within the long-term agreement following the interstate agreement on energy, signed in February 2017. This agreement was discussed and agreed between the parties, but it has not yet been implemented."
SOCAR Trading, headquartered in Geneva, was established in late 2007 by the State Oil Company of Azerbaijan.
The company sells SOCAR crude oil from Ceyhan port (Mediterranean Sea, Turkey), trades oil and oil products of other countries, and also assists the parent company in international investments. SOCAR Trading operations cover the countries of Europe, Africa, Asia and America.