Pakistani govt approves oil and gas imports from Nigeria

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The Pakistani government has given the go-ahead to the Ministry of Energy for kicking off negotiations with Nigeria to explore the possibility of cooperation in oil and gas production and trade including import of crude oil and liquefied natural gas (LNG) without going into the bidding process, Express Tribune reports.

The ministry is seeking close partnership with energy-rich Nigeria in a government-to-government arrangement in order to encourage and promote investments in each other’s petroleum upstream and downstream industries. Under a proposed deal, the two countries will exchange technical and other information as well as data on mutually beneficial projects and activities.

As part of the proposal, Pakistan and Nigeria will explore the possibility of crude oil, oil products and LNG supplies and setting up refining facilities. They will share experience and assist in gas infrastructure development, gas consumption and optimum utilisation of flare gas. The two countries will also conduct joint development studies, evaluate the possibility of well drilling, examine production data including samples of work areas and exchange results of studies.