Pakistan to sign five more LNG agreements

Pakistan to sign five more LNG agreements By APP Published: February 12, 2016 55 SHARES SHARE TWEET EMAIL PHOTO: AFP PHOTO: AFP ISLAMABAD: Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi has said that five more liquefied natural gas-based agreements will be signed with Qatar after the government inked a $16-billion deal for gas import a day ago. Talking to Voice of America on Thursday, he said Pakistan had been passing through a severe energy crisis and LNG import from Qatar would be a positive and welcome step to address the issue. Pakistan, Qatar sign $16 billion LNG deal The two countries have signed three other agreements and memoranda of understanding for cooperation in the fields of radio, television, health and academic research. Abbasi pointed out that 50% of Pakistan’s energy needs depended on energy produced by gas and LNG import from Qatar had started partially, but the gas was given to consumers on the basis of their need. Under the agreement with Qatar, three LNG-carrying ships would reach Pakistan every month this year and next, he said, adding the number of vessels would increase to five after 2017. Responding to a question, the minister said Pakistan had been facing energy crisis for the past several years due to which not only domestic consumers but also the national economy suffered badly. Pakistan finalises $21b LNG deal with Qatar In his remarks, Sui Southern Gas Company former general manager Brigadier (Retired) Agha Gul noted that the process of LNG purchases from Qatar had been going on from 2004. Talking to Voice of America, Gul stressed that people who had some knowhow of the energy crisis would consider the LNG import project as light at the end of the tunnel. The deal has come at a time when oil prices stand at sharply lower levels in the international market, which would have a good impact. Published in The Express Tribune, February 12th, 2016. Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation. Read more: LNG agreements Recommended Stories qatar-2-3Affordable LNG: PM to ink pact during Qatar visit tomorrow The government is pursuing import of LNG to minimise the supply gap and meet energy needs pm-house-3Pakistan, Qatar sign $16bn LNG deal According to the agreement, Qatar will provide Pakistan with a billion dollars’ worth of LNG annually 01-799Pakistan, Qatar sign $16 billion LNG deal Three other agreements signed during PM Nawaz’s Doha visit by Taboola Sponsored Links You May Like Meet the Man Whose Life Is an Endless Road Trip VICE AU Cher bares all at 69 Cher Bares All at 69 Golfers: Do THIS for a perfect flop shot xE1 Golf Relax! You can Get an MBA in just Two Years. Start Now! SCU Online This Man Is A Genius For What He Did To His Basement ViralNova.com 10 Things Men Find Unattractive Flipopular Leave Your Reply Below Name (required) Email Location Web Your comments may appear in The Express Tribune paper. For this reason we encourage you to provide your city. The Express Tribune does not bear any responsibility for user comments. Notify me of followup comments via e-mail Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments FAQ.