Pak PM Sharif to Visit Doha Next Month for LNG Deal Signing Ceremony

Pakistani Prime Minister Nawaz Sharif will visit Doha on February 10 to witness the signing of an agreement for import of LNG from Qatar, Pakistan Today newspaper reported Saturday.

Earlier this month, Pakistani cabinet’s Economic Coordination Committee (ECC) finally approved the long term LNG deal with Qatar. ECC has allowed Pakistan State Oil (PSO) to sign Sale Purchase Agreement with Qatargas for import of LNG of around $16 billion for 15 years. As per the deal Pakistan will import 1.5 million tons a year of LNG.

The ECC had been dragging feet to approve the deal because of higher prices offered by Qatar. It gave a go-ahead when Qatargas agreed to reduce LNG price to 13.37 percent of Brent to match a bid received from Gunvor for five years.

Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi, Minister for Finance Ishaq Dar, Minster for Water and Power Khawaja Asif and senior government officials will accompany the Prime Minister during the visit.

Pakistan has been facing shortage of 600 mmcfd natural gas and the LNG deal could ease the situation to a great extent.