Weekly MENA Newsletter will be delivered to your email in PDF format every Friday (52 Issues per Year).
With Pakistan reported to have finally inked the long-awaited 15-year LNG supply agreement with Qatar, Pakistan State Oil (PSO) is calling for extra suppliers to deliver 120 cargoes from 2016 to 2020, adding to the Middle East and South Asia LNG demand balance.
The Qatar agreement worth $16bn is for the supply of 1.5mn tons/year from next month, with the LNG to be delivered to Pakistan’s Exquisite floating storage and regasification unit (FSRU) moored at Port Qasim near Karachi.
The FSRU has a capacity to handle 3.5mn t/y of LNG with 151,000m³ of storage. The contract has been delayed due to disagreement over price (MEES, 17 April) in addition to corruption allegations. The deal was announced this month by the energy ministry and is expected to be sealed by the end of the month. However, it is unclear whether it has been approved by the Economic Coordination Committee, part of the finance ministry, as a previous version of the LNG contract with Qatar is currently under investigation. (CONTINUED - 351 WORDS)