Pakistan has proposed energy assets to Russia.

    23 October 2013

lrg_Ind_SteelPakistan is ready to sell the power assets to the Russian companies: in upcoming six to nine months, four companies from the oil & gas and power sectors will be set for a privatization. But for now, the major Russian players have no accurate plans concerning this matter. Interest to Pakistan showed only Gunvor, an oil trading company headed by Mr. Gennady Timchenko.

On October 2 of 2013, Mr. Yury Sentyurin, Department of Energy deputy minister, reported to Interfax agency that the government of Pakistan invites the Russian companies to take part in privatization of the state enterprises of energy industry. Pakistan has already introduced the presentation of part  of the energy sector assets – four gas and oil unit companies, as well as four companies of power and electricity unit, are listed for privatization. This is, in particular, Pakistan Petroleum, Pakistan State Oil Company, as well as well as gas distribution and electricity assets.

Major state companies of Pakistan are engaged in oil and gas extraction (40 billion cubic meters of natural gas and 2-4 million tons of oil per year). Extracted raw material is delivered on a domestic market.  If this country is a chemical and petrochemical industry and dependent on energy imports. Still, there is a deficit of energy resourses in the country, which makes it dependent on import from other countries.

The next round of discussion of the participation of Russian companies in privatization of Pakistan FEC will be held at a meeting of the intergovernmental Commission in Moscow, on November of 2013.

Source: Russian business newspaper “Kommersant”.