Pakistan, Azerbaijan Close to Finalizing $2B Oil & Gas Investment Deal

Pakistan, Azerbaijan Close to Finalizing $2B Oil & Gas Investment Deal
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Islamabad (TDI): The Pakistani Prime Minister, Shehbaz Sharif, said that the country is closer to finalizing an investment deal through which Azerbaijan will invest $2 billion in the energy sector of Pakistan.

He made these remarks during a meeting with the presidential representative of Azerbaijan, Khalaf Khalafov, on Friday at the Prime Minister House. Khalafov, who is Ilham Aliyev’s special assignments representative, also met with the Deputy Prime Minister/Foreign Minister of Pakistan.

The investment deal is in the pipeline for some time now, and Pakistan’s Finance Ministry recently said that after interactions with Azerbaijani officials at the World Economic Forum (WEF), the deal is quickly taking shape.

Under the deal, Azerbaijan’s state energy company SOCAR will invest in oil and gas sector, and will bring stability to the energy supply chain of Pakistan.

Prime Minister Sharif also noted the inauguration of the first Asaan Khidmat Center in Islamabad earlier this month; an initiative which came to be with support from Azerbaijan, and which utilizes its ASAN model of providing all public services in one place.

The visiting Azerbaijani representative also visited the newly-inaugurated center and observed services and operations. He told the PM that his country’s leadership appreciates “Pakistan for standing solidly with Azerbaijan during the second Karabakh war.”

“During the meeting, regional developments were also discussed. The Prime Minister stressed upon the need for Pakistan and Azerbaijan to coordinate regularly and closely, to ensure the realization of the shared objective of maintaining regional peace and security,” an official handout read.

PM Sharif also took the opportunity to invite President Aliyev on an official visit to Pakistan, as he recalled their previous meetings “fondly.”

“The Representative of the President of Azerbaijan conveyed President Aliyev’s warm greetings to the Prime Minister and lauded the Prime Minister’s vision and leadership that had brought Pakistan many successes, not only on the economic front but also in security and the diplomatic arena,” the statement added.

Earlier, as he met DPM/FM Ishaq Dar, representative Khalafov briefed him on “ongoing and forthcoming initiatives under Azerbaijan’s Chairmanship of the Conference on Interaction and Confidence Building Measures in Asia (CICA).”

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