Latest news with #SergeyTumanov
Business Insider
23-06-2025
- Business
- Business Insider
Russia eyes three-way energy pact with Pakistan, Nigeria in major oil and gas deal
In a significant move that could reshape cross-continental energy partnerships, Russia has offered Pakistan stakes in its oil and gas fields located in Nigeria. Russia has proposed offering Pakistan stakes in its oil and gas fields located in Nigeria. Pakistan aims to strengthen bilateral ties and secure long-term energy supplies through this partnership. If finalized, the deal could form a tri-continental energy alliance involving Russian, Pakistani, and Nigerian resources. The proposal, aimed at strengthening bilateral ties and securing long-term energy supplies for Pakistan, highlights Moscow's growing interest in expanding its presence in Africa's resource-rich energy sector. Pakistan, which previously attempted oil and gas exploration in Iraq through Pakistan Petroleum Limited (PPL) with little success, is now shifting strategy. According to The Express Tribune, Islamabad is looking to invest in oil and gas fields already under development to reduce risk and enhance returns. During an ongoing visit to Moscow, a Pakistani delegation led by Petroleum Minister Ali Pervaiz Malik conveyed Pakistan's interest in acquiring stakes in such projects, particularly those in Nigeria involving Russian firms. Russian energy giant Gazprom, led by Sergey Tumanov, General Director of Gazprom International, is spearheading the initiative and has invited Pakistan's largest oil and gas explorer, the Oil and Gas Development Company Limited (OGDCL), to join overseas ventures. Ahmed Hayat Lak, Managing Director and CEO of OGDCL, also participated in the meeting, highlighting the seriousness of Pakistan's bid. For Islamabad, the potential deal represents an opportunity to ease pressure on its foreign exchange reserves while diversifying its energy sources in a volatile global market. Gazprom's footprint in Nigeria's oil industry Gazprom, Russia's state-owned energy giant, has steadily expanded its presence in Nigeria's oil and gas sector through strategic partnerships, joint ventures, and bilateral agreements. Traditionally focused on natural gas exports to Europe and Asia, Gazprom is increasingly turning to Africa as part of Moscow's broader strategy to diversify its global energy reach. In countries like Algeria, Libya, and Nigeria, Gazprom has engaged in exploration, infrastructure development, and production-sharing arrangements. Nigeria, in particular, has become a focal point of the company's African ambitions, following a $2.5 billion deal signed with the Nigerian National Petroleum Corporation over a decade ago. Its latest move, inviting Pakistan to co-invest in Nigerian oil and gas fields signals a multi-layered strategy that ties together diplomatic, commercial, and logistical interests. If finalized, the partnership would represent a significant geopolitical and economic alignment, linking Russian assets, Pakistani capital, and Nigerian resources in a tri-continental energy alliance. gas reserves and plays a major role in global crude exports.
Business Recorder
21-06-2025
- Business
- Business Recorder
Pakistan explores collaborative opportunities with Russian oil and gas company
ISLAMABAD: A high-level Pakistani delegation, led by Federal Minister for Petroleum Ali Pervaiz Malik, held a meeting with representatives of Gazprom, Russia's leading oil and gas company, headed by Sergey Tumanov, general director of Gazprom International. Ahmed Hayat Lak, MD/CEO Oil and Gas Development Company Limited (OGDCL), was also present in the meeting. The discussions focused on enhancing bilateral cooperation in the energy sector, with a particular emphasis on joint ventures and business development opportunities between OGDCL and Gazprom International. Pakistan, Russia discuss energy, trade cooperation During the meeting, both parties reaffirmed their commitment to strengthening energy collaboration, leveraging Pakistan's growing energy demands and Gazprom's extensive expertise in oil and gas exploration, production, and infrastructure development. The discussions highlighted potential areas of partnership. It was agreed that OGDCL and Gazprom International would continue discussions to identify viable projects and partnerships, ensuring sustainable energy development and economic growth for both countries. The meeting marks a significant step forward in Pakistan-Russia energy relations, reinforcing the shared vision of energy collaboration and economic prosperity. Copyright Business Recorder, 2025
Business Recorder
21-06-2025
- Business
- Business Recorder
Collaborative opportunities with Gazprom explored
ISLAMABAD: A high-level Pakistani delegation, led by Federal Minister for Petroleum Ali Pervaiz Malik, held a meeting with representatives of Gazprom, Russia's leading oil and gas company, headed by Sergey Tumanov, general director of Gazprom International. Ahmed Hayat Lak, MD/CEO Oil and Gas Development Company Limited (OGDCL), was also present in the meeting. The discussions focused on enhancing bilateral cooperation in the energy sector, with a particular emphasis on joint ventures and business development opportunities between OGDCL and Gazprom International. Pakistan, Russia discuss energy, trade cooperation During the meeting, both parties reaffirmed their commitment to strengthening energy collaboration, leveraging Pakistan's growing energy demands and Gazprom's extensive expertise in oil and gas exploration, production, and infrastructure development. The discussions highlighted potential areas of partnership. It was agreed that OGDCL and Gazprom International would continue discussions to identify viable projects and partnerships, ensuring sustainable energy development and economic growth for both countries. The meeting marks a significant step forward in Pakistan-Russia energy relations, reinforcing the shared vision of energy collaboration and economic prosperity. Copyright Business Recorder, 2025
