Azerbaijani investors urged to invest in Pak energy sector

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ISLAMABAD: Federal Minister for Energy Omar Ayub Khan, Tuesday, urged the Azerbaijani investors to explore investment opportunities in gas distribution, exploration and renewable energy which Pakistan planned to take to 60% of our energy mix in the future.

In a meeting with Ambassador of Azerbaijan Ali Alizada, he also offered Azerbaijan access to the Gwadar port. The Ambassador apprised the Federal Minister of his Government’s decision to award him a diplomatic medal in recognition of his kind service to relations between both the brotherly countries. The sides exchanged souvenirs and a vote of thanks with an understanding to continue discussions in the future.

Country Head, SOCAR in Pakistan also accompanied the Ambassador during the meeting. State owned State Oil Company of Azerbaijan Republic (SOCAR) is Azerbaijan’s largest Oil and Gas Company. Its operations span many countries with a focus primarily in Europe and Asia. The visiting delegation showed keen interest in exploring business and investment opportunities in Pakistan’s energy sector. They expressed particular interest in Oil and Gas exploration activities in the Pakistan along with offering LNG supplies on a long term basis and opportunities in the LNG infrastructure of the country. Pakistan has developed as an important LNG market in recent years that has attracted interest from various investors.

The Ambassador of Azerbaijan, Ali Alizada, remarked that Pakistan is brotherly country which was one of the first countries to recognize Pakistan after our independence. He also said that, we would like to boost our economic ties especially in the energy sector of Pakistan.

 Federal Minister for Petroleum, Omar Ayub Khan, appreciated the warm words expressed by the Ambassador. The Minister added that, “Our Government has an open door policy for business and investors. The Government has taken important steps towards reducing cost of business in the country which has led to ease of doing business in the country. Pakistan believes in an open and competitive market and transparency.”

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