Pakistan plans to expand oil imports from Russia as disruptions linked to the Strait of Hormuz crisis force the government in Islamabad to seek alternative energy sources, Ambassador to Moscow Faisal Niaz Tirmizi said.
Speaking to Russia's state-owned TASS News Agency, the ambassador said that demand for Russian energy resources has increased amid the crisis around the Strait of Hormuz.
"We produce about 10% of the energy resources we need ourselves, while the rest is imported, mainly from the Gulf countries. Therefore, a serious crisis has arisen, and that is why we began to look for alternatives," Tirmizi said.
At some point, he said, alternative pipelines from Turkmenistan and even from Russia to South Asia will also be discussed.
Fuel prices recorded a sharp increase in the country following the oil supply disruption caused by the closure of the Strait of Hormuz, a key route for oil and gas shipping.
Iran closed the strait in response to joint attacks by the US and Israel, which began on February 28 and ended on April 8 following a Pakistan-mediated ceasefire.
Despite the extension in the ceasefire, the two sides remain at odds over proposals for a permanent end to the war, particularly over their respective blockades of Hormuz.
About a fifth of the world's oil and liquefied natural gas supply normally passes through the strait, which is the gateway to the Gulf and main export route for countries such as Saudi Arabia, Iraq and Qatar.
During the interview, Tirmizi pointed out that the situation in the Strait of Hormuz has become a worrying signal for several countries, including Pakistan.
"Of course, Russia is a major supplier of both oil and energy resources. Therefore, we are now also considering building a pipeline from Central Asia and Russia at some point," the ambassador stressed.
Tirmizi pointed out that Islamabad is even looking beyond Pakistan. "This could mean connecting the Eurasian space through roads, railways, pipelines, humanitarian contacts, and academic ties. This is what we are truly striving for now."
Amid the ongoing Hormuz crisis, the federal government hiked petrol and diesel prices by nearly Rs15 per litre each for the next week.
The price of petrol jumped from Rs399.86 to Rs414.78, while the HSD price increased from Rs399.58 to Rs414.58 per litre.
According to sources in the Petroleum Division, the petrol and diesel levy was raised by Rs13.91 per litre. The levy on petrol increased from Rs103.50 to Rs117.41 per litre, while the levy on diesel jumped from Rs28.69 to Rs42.60 per litre, according to the sources.
