• Friday, May 24, 2024

Asia

Pakistan receives first shipment of Russian LPG

Moscow’s embassy says consultations on a second shipment are under way

(Representational image: iStock)

By: Chandrashekar Bhat

PAKISTAN has received its first shipment of liquified petroleum gas (LPG) from Russia, Moscow’s embassy in Islamabad said on Tuesday (26), marking Islamabad’s second major Russian energy purchase.

The shipment, which the embassy said was delivered with Iranian help, comes after Pakistan received its first-ever delivery of Russian crude under a deal struck between the two countries earlier this year.

Russia delivered 100,000 metric tons to Pakistan through Iran’s Sarakhs Special Economic Zone, the Russian embassy said in a post on social media.

The embassy said consultations on a second shipment were under way. It did not provide details on Iran’s involvement, and it was not immediately clear how much the LPG cost or if it was discounted.

Pakistan has said it had paid for the Russian crude in Chinese currency but the value of the deal was never disclosed.

Energy imports make up the majority of Pakistan’s external payments and discounted imports from Russia offer a respite as Islamabad faces an economic crisis with an acute balance of payments problem, risking a default on its external debt.

(Reuters)

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