Qatar Petroleum has signed a long-term agreement with the State Oil Company of Pakistan to supply the Islamic Republic of Pakistan with up to three million tons per year of LNG.
Under the ten-year agreement, deliveries of LNG to Pakistan’s world-class receiving terminals will start in 2022 and will continue until the end of 2031.
The agreement was signed in Islamabad by HE Eng. Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Petroleum, and Mr. Syed Taha, Director and CEO of Pakistan State Oil Company Limited, during a private signing ceremony under the patronage and in the presence of His Excellency Mr. Imran He betrayed the Prime Minister of the Islamic Republic of Pakistan, in the presence of senior Pakistani officials, and His Excellency Sheikh Saud bin Abdulrahman Al Thani, Ambassador of the State of Qatar to Pakistan.
His Excellency Eng. Saad bin Sheridah Al Kaabi welcomed this agreement, saying: “We are pleased to sign this new long-term agreement with the State Oil Company of Pakistan Limited, and to continue our contributions to meet the increasing demand for energy in Pakistan.”
His Excellency the Engineer added: “This agreement will extend Qatar’s long-term relationship in supplying LNG to the Islamic Republic of Pakistan, and it highlights our commitment to meeting Pakistan’s requirements for LNG. Pakistani government oil, flexibility and supply security required to support Pakistan’s impressive growth. “
His Excellency Minister Al-Kaabi concluded his statement by saying, “Pakistan has a solid gas market and distribution system, which is why it is an important strategic market for Qatari LNG. We are encouraged in this by the exceptional growth of Pakistan and its excellent economic potential, as well as the possibility of being one of the fastest gas markets.” I would like to take this opportunity to thank His Excellency Prime Minister Imran Khan for his support and patronage of this event. I would also like to thank the energy officials in Pakistan and the POC management for their efforts and the professional and transparent negotiations that led to today’s important agreement. .
It is reported that Pakistan has two operating LNG terminals, namely the Ingro LNG receiving terminal and the Pakistan Gas Port terminal to receive LNG, both of which use floating units to store and re-convert to gas at Port Qasim. A number of additional stations are currently under study by various actors in the Pakistani private sector.
This is the second agreement of its kind between the competent authorities in Qatar and Pakistan, as Qatargas had signed in 2016 a long-term agreement to supply liquefied natural gas to the State Oil Company of Pakistan, according to which it would supply 3.75 million tons annually of LNG. Today’s agreement brings the total quantities of LNG from Qatar to Pakistan to 6.75 million tons annually.