Pakistan's Economic Co-ordination Committee (ECC) has approved an extension of the LNG supply agreement between Pakistan LNG Limited (PLL) and SOCAR Trading, a division of state-owned Oil Company of the Azerbaijan Republic (SOCAR).
"The ECC at a meeting on 20th February approved extending the LNG framework agreement between Pakistan LNG Limited and SOCAR Trading for another three years, based on the Energy Ministry's summary," Pakistani media reported, quoting the ECC.
This agreement was initially signed in 2023, and it allows PLL to purchase one consignment of LNG per month from the Azerbaijani trader as needed without any financial or take-or-pay commitments.
"The extension is in line with Pakistan's strategy for the flexible procurement of LNG based on seasonal demand, thereby providing cost-effective energy solutions," the media report said.
