ISLAMABAD: Russia’s Deputy Prime Minister Alexei Overchuk arrived in Islamabad along with a high-level delegation on a two-day visit (from September 18 to 19), according to a statement from the Foreign Office on Tuesday.
During the visit, Russian deputy PM Overchuk will hold important meetings with key officials, including President Asif Ali Zardari, Prime Minister Shehbaz Sharif, and Finance Minister Ishaq Dar.
A senior official from the Ministry of Energy indicated that Russia had informed them its LNG export terminals would be ready by 2026.
This timeline aligns with the expiration of certain price re-opening clauses in Pakistan’s long-term LNG agreements with Qatar, which could open the door to gas trade with Russia.
As Prime Minister Shehbaz’s coalition government continues to grapple with economic challenges, Overchuk’s visit could have significant implications for future cooperation between the two countries.
Earlier this month, the Ministry of Industries and Production submitted a report to the National Assembly regarding possibly establishing a new steel mill. The report followed discussions between Russian officials and President Zardari in April, during which Russia offered assistance reviving the Pakistan Steel Mills (PSM), originally built with Moscow’s support.
In July, Russian Consul General Andrey Viktorovich Fedorov reiterated Moscow’s willingness to help revive PSM, and officials noted that a Russian delegation was expected to visit Pakistan soon to discuss setting up a modern steel mill at the current PSM site.
Additionally, Prime Minister Shehbaz met Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Astana, Kazakhstan, in July, where they discussed strengthening bilateral cooperation across various sectors.
