Russia’s Largest LNG Producer Ready to Supply Gas to Pakistan

Russia’s largest independent natural gas producer Novatek is ready to supply liquefied natural gas (LNG) to Pakistan as the country is scrambling for LNG cargo in the market to solve its energy sector woes, Russian News Agency reported on Monday. The Company’s CEO Leonid Viktorovich Mikhelson told reporters that the company is willing to consider spot-based LNG supplies to Pakistan if the country resolves its tanker issues. “If they [Pakistan] solve the issue with the tanker fleet, then we will be ready to consider spot deliveries,” the top executive said. Western importers are unwilling to pen long-term LNG agreements for Russian gas since Moscow’s invasion of Ukraine. According to experts, energy sector giants like Novatek are now turning to South Asian markets to offset losses from blockades in markets up west. It may be noted that both Pakistan and Russia have been in direct contact over fuel procurement deals since last year. In January 2023, both countries agreed on late March as the timeline for crude oil export.