MOSCOW: Pakistan plans to increase oil imports from Russia amid the crisis in the Strait of Hormuz, Russia’s state-run TASS news agency reported, citing Pakistan’s ambassador to Russia, Faisal Niaz Tirmizi.
The envoy shared that Pakistan and Russia are working on the initiative of creating the Pakistan Stream gas pipeline.
“The North-South gas pipeline is a very important initiative, and we will definitely return to it at some point,” said Tirmizi, reported TASS.
“Once the economic cooperation mechanism begins to gain new momentum, the North-South transport pipeline in Pakistan, or Pakistan Stream, will become a landmark agreement between the two countries. It is currently being developed,“ he said, adding that negotiations with the Russian side are ongoing.
The energy crisis associated with the closure of the Strait of Hormuz “has demonstrated that different ways to transport energy resources should exist, not only for Pakistan, but globally,” the diplomat stressed.
Therefore, “Pakistan is in contact with the Russian side, and we expect oil and gas supplies from Russia,” he noted.