Pakistan receives 100,000 tons Russian LPG in a historic first

ISLAMABAD: In a major development, 10 containers with Russian-origin Liquefied Petroleum Gas (LPG) entered Pakistan via Torkham border.

Pakistan witnesses a major boost in its trade with Russia as ship containing Russian crude oil docked at the Karachi port earlier on Monday.

Initially, Pakistan has imported a total of 100,000 tons of LPG from Russia after the two countries signed a deal in January.

Officials said that after the arrival of the consignment, new LPG prices will be determined in the coming days.

Meanwhile, Minister of State for Petroleum Musadik Malik said that the import of crude oil and gas will help Pakistan overcome its energy challenges and also provide relief to the citizens.

He also talked about Pakistan’s new greenfield oil refining policy “to attract investment and help supply LPG to regions without gas through the private sector.”

According to Malik, Pakistan’s yearly demand for petrol and diesel is currently pegged at 20 to 21 million tons while local refineries are meeting 50 per cent of the demand.

He said that Pakistan’s annual consumption of petrol and diesel is expected to escalate to 33 million tons annually.