Pakistan receives first LPG shipment from Russia

Pakistan has received its first shipment of 100,000 tons of liquefied petroleum gas (LPG) from Russia. In a statement released by the Russian Embassy in Islamabad, it was announced that the first shipment of 100,000 tons of LPG was delivered to Pakistan via Iran. The statement noted that negotiations for the next shipment are ongoing. Pakistan is working to diversify its energy sources Pakistan imports 70 percent of its crude oil. The imported crude oil is refined and converted into useful products according to the country's needs. Islamabad imports crude oil largely from the United Arab Emirates, Saudi Arabia and Kuwait. Following the global increase in oil prices, Pakistan had begun initiatives to diversify its crude oil import sources. Russia, one of the world's largest crude oil producers, had offered to supply Pakistan with crude oil at a discounted price. In January 2023, Moscow and Islamabad agreed to supply Pakistan with oil and natural gas at a discounted price to meet its increasing domestic and industrial energy needs. Officials had announced that Pakistan would meet 35 percent of its crude oil needs from Russia and that payment to Moscow would be made in yuan through the Bank of China. The first ship carrying 45,000 tons of the 100,000 tons of crude oil Pakistan imported from Russia arrived in Karachi on June 11. Pakistani officials had also announced that Azerbaijan would supply Pakistan with one cargo of liquefied natural gas (LNG) every month at a discounted price starting in July.