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Qatar and Pakistan in long-term $16bn gas deal

Qatar and Pakistan in long-term $16bn gas deal

Qatar to export up to 3.75 million tonnes of liquefied natural gas annually

Qatar has signed a deal with Pakistan to export up to 3.75 million tonnes of liquified natural gas per year, according to the emirate’s state media.

The Qatar News Agency (QNA) confirmed the deal between Qatargas 2 and Pakistan State Oil Company Limited (PSO), adding that it will last for 15 years with the first cargo expected to be delivered in March this year.

Pakistan’s petroleum minister Shahid Khaqan Abbasi called the deal a “game-changer” for his country, and that it could save the country $1bn per year.

Believed to be worth $16bn, according to reports in Pakistan, the move is expected to help remedy the country’s natural gas shortage by going towards electricity generation and industrial use.

Saad Sherida Al Kaabi, chairman of Qatargas Board of Directors called the deal “a very important milestone in Qatar’s standing as a reliable energy supplier”.

He added: “The State of Qatar under the leadership and guidance of HH the Emir Sheikh Tamim bin Hamad Al-Thani is constantly looking to expand and enhance its LNG market share while at the same time helping countries around the world meet their growing energy needs. I’m very proud to welcome Pakistan to our customer portfolio.”

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