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Price of LNG import from Qatar expected to reduce further

ISLAMABAD: Qatar is likely to reduce the purchase price of Liquefied Natural Gas (LNG) for Pakistan while the price will be negotiated and finalized in the meeting between Petroleum ministers of the two countries next month in Doha, ARY News reported.

The talks between Pakistan’s Petroleum Minister Shahid Khaqan Abbasi and Qatar’s Petroleum minister will be held on February 8.

Besides price, the volume of LNG imports would also come up for discussion during the meeting.

Khaqan Abbasi will lead the Pakistani delegation during the deliberations.

Earlier, the price for the export of LNG was set equivalent to 15 per cent of Brent crude oil rate, according to which the Qatar would export LNG to Pakistan at $17.437 per million British thermal units (mmbtu), however the price did not cover capital cost of LNG terminal and its charges, import expenses, re-gasification, wastage and shipping costs. The additional costs would add about $2.084 per mmbtu to the quoted price.




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