Qatar and Pakistan have agreed an arrangement to divert 24 LNG cargoes from Qatar that were originally set to be delivered to Pakistan in 2026, according to Pakistani media. Under a so-called ‘net proceeds differential formula’ Qatar will sell the cargoes on the open market, and Pakistan will pay the difference if they sell for below the contracted price.
Qatar dominates (99%) Pakistan’s 5.82mn tons of LNG imports so far this year. It has two active contracts both ending in 2031 with the Pakistan State Oil Company: a 3.75mn t/y deal starting in 2016 and a 3mn t/y deal starting in 2022. (CONTINUED - 151 WORDS)