Pakistan, Qatar ink new LNG import pact
- By Web Desk -
- Feb 26, 2021
ISLAMABAD: Pakistan on Friday inked a new agreement with Qatar for the import of Liquified Natural Gas (LNG), ARY News reported.
The ceremony held in Islamabad was also attended by Prime Minister Imran Khan. Energy Minister Umar Ayub and his Qatari counterpart signed the agreement on behalf of their respective countries.
According to the agreement, Qatar will provide three million tones of LNG to Pakistan in the next ten years. The new agreement for Liquefied Natural Gas (LNG) with Qatar will save $300 million annually of Pakistan’s exchequer.
Speaking at the ceremony, SAPM on Petroleum, Nadeem Babar said that the new era of mutual relations has kicked off between Pakistan and Qatar with the new agreement.
He said that the agreement will help in opening new ways for industrial cooperation.
Earlier this year, Pakistan allowed its private sector to import Liquefied Natural Gas (LNG) as the oil and gas regulatory body issued import licenses to at least two companies.
Read more: Cabinet gives nod to new LNG import agreement with Qatar
Pakistan’s Oil and Gas Regulatory Authority (OGRA) had reportedly issued 10-year term LNG importing licenses to at least two private sector companies.
It is to be mentioned here that Ex-PM Abbasi, Miftah Ismail, ex-PSO MD Imranul Haq and others are accused of awarding an LNG import contract allegedly at exorbitant rates in 2015, which caused a big loss to the national exchequer.