Pakistan Considers Importing Cheap Oil and Gas from Iran Amid Energy Crisis
Islamabad, Pakistan’s Federal Minister for Petroleum, Ali Pervez Malik, has announced that Islamabad is exploring the possibility of importing crude oil and natural gas from Iran at discounted rates, in a move that could significantly ease the country’s energy burden.Speaking to reporters, Minister Malik stated that the matter would be carefully evaluated in light of…
Islamabad,
Pakistan’s Federal Minister for Petroleum, Ali Pervez Malik, has announced that Islamabad is exploring the possibility of importing crude oil and natural gas from Iran at discounted rates, in a move that could significantly ease the country’s energy burden.
Speaking to reporters, Minister Malik stated that the matter would be carefully evaluated in light of international agreements and legal obligations. He further noted that the government would strive to pass on additional relief to consumers should global oil prices decline further.
The announcement comes as Pakistan grapples with soaring energy costs and mounting pressure on its foreign exchange reserves. The long-stalled Iran-Pakistan gas pipeline project has faced repeated setbacks due to US-led sanctions against Tehran, but shifting geopolitical dynamics appear to be prompting Islamabad to revisit its options.
Analysts say the move, if successful, could yield substantial savings for Pakistan’s import bill and help stabilize domestic fuel and electricity prices. However, navigating US sanctions under legislation such as CAATSA remains the most significant hurdle.
Background: The Iran-Pakistan pipeline, often dubbed the “Peace Pipeline,” was conceived decades ago but has remained incomplete on the Pakistani side due to international pressure. With Iran’s regional influence growing and global energy markets in flux, Islamabad appears determined to keep all options on the table.
