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Pakistan, Qatar sign 10-year LNG agreement

Business Doha 28 Feb 21
Pakistan, Qatar sign 10-year LNG agreement
Qatar will provide Pakistan three million tonnes of liquefied natural gas (LNG) for 10 years after the two countries entered into an agreement on Friday
Fee
Event Location
Qatar , Qatar
Area
Doha
Start Time
28 February 2021, 12:00 AM
End Time
31 March 2021, 12:00 AM
Website

Pakistan and Qatar have signed another long-term Liquefied Natural Gas (LNG) supply contract for additional 200 million cubic feet a day (MMCFD) at around 31 per cent lower rate than the 2015 contract for 500MMCFD.

Prime Minister Imran Khan witnessed the signing of an agreement that took place here at the PM House. Federal Minister for Energy Omar Ayub Khan and Qatar’s Energy Minister Saad Sherida al-Kaabi signed the agreement.

Qatar’s Minister al-Kaabi termed the agreement with Pakistan “historic” and expressed confidence that it would open up new vistas of development. He said Qatar would also promote bilateral cooperation in other areas of mutual interest.

The new agreement has been signed at around 31 per cent lower rate than the 2015 contract by the previous PML-N agreement, special assistant to prime minister (SAPM) on Petroleum Nadeem Babar said.

Pakistan will get 3 million tonnes of LNG per year from Qatar Petroleum under the deal from January 2022 starting with average of two ships per month, which would be increased to four vessels in next three years.

The new LNG contract has a price renegotiation option after four years rather than 10 years that had been fixed in the earlier signed 15-year contract.


Qatar oil and gas newsPakistan Qatar LNG agreement



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