BR100 Decreased By (-0.7%)
BR30 Decreased By (-0.77%)
KSE100 Decreased By (-0.53%)
KSE30 Decreased By (-0.55%)
BECO 5.66 Decreased By ▼ -0.02 (-0.35%)
BML 63.53 Decreased By ▼ -1.31 (-2.02%)
BOP 33.60 No Change ▼ 0.00 (0%)
CNERGY 8.14 Decreased By ▼ -0.10 (-1.21%)
DCL 11.40 Increased By ▲ 0.05 (0.44%)
FCCL 52.18 Decreased By ▼ -0.73 (-1.38%)
FCSC 5.52 No Change ▼ 0.00 (0%)
FFL 17.75 Decreased By ▼ -0.05 (-0.28%)
FNEL 1.30 No Change ▼ 0.00 (0%)
HUMNL 11.20 Decreased By ▼ -0.04 (-0.36%)
KEL 7.88 Decreased By ▼ -0.09 (-1.13%)
KOSM 5.63 Increased By ▲ 0.19 (3.49%)
MLCF 85.75 Decreased By ▼ -0.26 (-0.3%)
NBP 184.00 Decreased By ▼ -1.00 (-0.54%)
PACE 11.68 Decreased By ▼ -0.34 (-2.83%)
PAEL 40.30 Increased By ▲ 0.09 (0.22%)
PIAHCLA 25.87 Increased By ▲ 0.14 (0.54%)
PIBTL 17.05 Decreased By ▼ -0.27 (-1.56%)
PPL 224.70 Decreased By ▼ -0.60 (-0.27%)
PRL 34.60 Increased By ▲ 0.22 (0.64%)
PTC 64.19 Decreased By ▼ -1.27 (-1.94%)
SEARL 90.40 Decreased By ▼ -0.11 (-0.12%)
SSGC 26.56 Decreased By ▼ -0.20 (-0.75%)
TELE 9.08 Increased By ▲ 0.12 (1.34%)
THCCL 67.23 Decreased By ▼ -2.21 (-3.18%)
TPLP 11.40 Increased By ▲ 0.09 (0.8%)
TREET 24.70 Increased By ▲ 0.15 (0.61%)
TRG 71.14 Decreased By ▼ -0.53 (-0.74%)
WAVES 10.91 Decreased By ▼ -0.54 (-4.72%)
WTL 1.27 Decreased By ▼ -0.01 (-0.78%)
Print Print edition: 2016-12-29

LNG deal not uploaded yet

Published December 29, 2016 Updated December 29, 2016 12:00am

The Ministry of Petroleum or any of the attached departments have not yet uploaded the Pak-Qatar Liquefied Natural Gas (LNG) agreement sealed on February 10, 2016, contrary to repeated commitments by the Petroleum Minister Shahid Khaqan Abbassi. Pakistan Qatar LNG deal envisages import of 2.25 million tons of LNG from February 2016 to Jun 2017 and 3.75 million tons per annum from Jul 2017 to 2030. PSO has contracted to pay Qatargas every fortnight through a Standby Letter of Credit (SLBC) at 105 percent of the value of 4 LNG cargoes.
Federal Minister for Petroleum, Shahid Khaqan Abbasi while talking to Business Recorder here on Wednesday stated that his Ministry has directed the management of Pakistan State Oil (PSO) which is under the administrative control of the Ministry of Petroleum, to upload details of the LNG deal on its website excepting the confidential clause. The Ministry has not stopped PSO from uploading the deal he said and added that failure to do so is a reflection of PSO's decision.
Replying to the allegation of LNG deal being a scam made by ppp Co-Chairman Asif Ali Zadari during his speech at the death anniversary of his wife, the Minister said let the former President become part of parliament and then he (the Minister) will provide him all details. The Minister stated that the government has provided all details of the contract to parliamentarians.
"The Qatari prince's letter in favour of the Prime Minister does not mean that the LNG deal is not transparent. That issue is not related to the LNG deal and if anybody has some reservations the government is ready to satisfy him/her," Khaqan Abbassi stated. According to Senator Saleem Mandviwalla of Pakistan Peoples' Party (PPP) the government was deliberately not making the deal public which as per law is necessary. He said there are kickbacks and commissions in LNG deal therefore the Petroleum Ministry has not placed it on the website of any of the relevant departments.
After completing LNG terminal at Port Qasim Karachi, Pakistan so far has imported over 60 LNG ships each carrying 3.2 Billion cubic feet (BCF) of the commodity, and so far PSO has paid over $1.4 billion to Qatargas. Federal Minister Abbassi told this correspondent that within next few months Pakistan would strike more deals with LNG suppliers. "We are working to take LNG imports to 2.4 Billion cubic feet per Day (BCFD) in the next 2 years as it was essential to bridge gas demand/supply gap", he added.
Abbasi said Qatar-Gas Company is to increase LNG supply from 400 million cubic feet per day (MMCFD) to 600 MMCFD by January 12, 2016 which as per agreement was due to start in July 2017. The Minister said that Karachi-Lahore LNG pipeline being laid by 2 gas utilities is likely to be inaugurated in the first week of January 2017 and after the completion Sui-Nothern Gas Pipelines Limited (SNGPL) will be in a position to transport 1.2 BCFD of the imported gas.

Copyright Business Recorder, 2016

Comments

Comments are closed for this article.