This just in, Qatar has emerged as a front-runner for a long term gas supply LNG deal with Pakistan. This was reported by a Senior Pakistani Official. Reuters reported on Friday that in the upcoming weeks, the Cabinet of Prime Minister Imran Khan will decide on an agreement. Pakistan and Qatar will sign LNG deal agreement.
At the moment, Pakistan is running out of Domestic Gas with a population of 208 million which proactively use it. In the times of crisis like these, they have turned to Liquified Natural Gas (LNG) import to overcome the shortage of Domestic Gas, encumbering the growth of its economy and causing a series of gas black outs.
Pakistan and Qatar will sign a 15 year LNG deal agreement.
Qatar is already the biggest supplier of the Pakistan’s gas and in 2016, they signed a 15 year agreement to export 3.75 million tons of Gas to Pakistan. And, they have just supplied the first terminal of the LNG-Deal.
Gas Technologies are evolving and LNG is one of the most emerging ones. As a potential, Pakistan is looking to secure a long-term LNG supply for its second terminal. According to the agreement between Pakistan and Qatar LNG deal, a total of 600 million cubic feet per day (mmcfd) of natural gas will be supplied to Pakistan.
Other than Pakistan and Qatar deal, Pakistan has already signed up a five year import deal with Gunvor and a 15-year long term agreement with Italy’s ENI, but is also seeking for further long term agreement.
On the mentioned grounds, they have been negotiating with Russia, Turkey, Oman, Italy, Qatar, Malaysia and Azerbaijan. Saudi Aramco, the state owned Oil and Gas Company of Saudi Arabia has also showed interest in the Gas deal.
A Senior Pakistani Official told Reuters that over every country, Qatar was offering the lowest price, and tendency of a reasonable price review after five or 10 years.Pakistan and Qatar Are Signing a Long-Term LNG Deal