No Obstacle in purchase of Russian oil, says Nikolay Shulginov.

Minister of Energy of the Russian Federation says negotiations underway for finalising an agreement n Over the past 6 years, trade turnover between Russia, Pakistan has almost doubled.

A high level delegation of the Russian Federation, headed by Nikolay Shulginov, the Minister of Energy, will hold talks with Pakistani officials in Islamabad to explore cooperation avenues in the fields of oil, gas and trade this week . Mr. Shulginov gave an exclusive interview to The Nation.

1. Pakistan has recently shown an interest in purchasing lNG from Russia, how early the deal could be finalised?

   It is a matter of commercial negotiations - once the parties reach agreements. I shall only note that most of Russian LNG volume is sold via long: term contracts. However, there are spot volumes, their supply can be negotiated, too. We are aiming at increasing our total annual production of LNG up to 100 million tons by 2030. In our opinion, this is the additional volume which can be discussed. Especially if we take into account the increasing demand for gas in Pakistan.

2. North: South gas pipeline project in doldrums from last many years? What is hampering the project and when do you expect it would be started?

   The North: South gas pipeline, which was renamed the Pakistan Stream, is significant for both Russia and Pakistan. The Government of the Russian Federation pays great attention to it. Nevertheless, the approach to the implementation of such projects has to be comprehensive, it means not only a pipeline but also a source of gas for it. And we are currently discussing the project both from the point of view of transporting regasified gas and pipeline gas - from Iran or coming through TAPI. It is crucial to carefully study all the options available and come to the most transparent and economically justified one. I believe we will work out a road map on this project in the nearest future. The relevant documents were finalized by the working groups of the two countries last February. This issue will certainly be raised at a meeting of the intergovernmental commission.

3. In the backdrop of hurdles in the execution of North South gas Pipeline, how the new deal for Oil purchase would work between Russia and Pakistan?

   I don't see any obstacles. As I have already said, there is a search for comprehensive solutions for the project. Moreover, the gas issue doesn't relate to oil supply. The negotiation process on oil supplies has not been completed, so it is...