AVN 65.10 Increased By ▲ 0.10 (0.15%)
BAFL 31.30 Increased By ▲ 0.15 (0.48%)
BOP 4.77 Increased By ▲ 0.06 (1.27%)
CNERGY 3.94 Increased By ▲ 0.06 (1.55%)
DFML 13.55 Decreased By ▼ -0.15 (-1.09%)
DGKC 41.99 Increased By ▲ 0.72 (1.74%)
EPCL 46.55 Decreased By ▼ -0.14 (-0.3%)
FCCL 11.46 Increased By ▲ 0.04 (0.35%)
FFL 5.13 Increased By ▲ 0.09 (1.79%)
FLYNG 5.95 Increased By ▲ 0.13 (2.23%)
GGL 9.95 No Change ▼ 0.00 (0%)
HUBC 65.00 Increased By ▲ 0.90 (1.4%)
HUMNL 5.70 Increased By ▲ 0.05 (0.88%)
KAPCO 27.94 Increased By ▲ 0.14 (0.5%)
KEL 2.20 Increased By ▲ 0.07 (3.29%)
LOTCHEM 24.62 Increased By ▲ 0.32 (1.32%)
MLCF 21.90 Increased By ▲ 0.50 (2.34%)
NETSOL 84.33 Increased By ▲ 0.13 (0.15%)
OGDC 87.98 Increased By ▲ 0.04 (0.05%)
PAEL 11.11 Increased By ▲ 0.21 (1.93%)
PIBTL 4.20 Increased By ▲ 0.02 (0.48%)
PPL 77.35 Decreased By ▼ -0.35 (-0.45%)
PRL 13.75 Increased By ▲ 0.13 (0.95%)
SILK 0.93 Increased By ▲ 0.04 (4.49%)
SNGP 41.70 Decreased By ▼ -0.23 (-0.55%)
TELE 5.97 Increased By ▲ 0.10 (1.7%)
TPLP 15.85 Increased By ▲ 0.07 (0.44%)
TRG 112.01 Decreased By ▼ -0.29 (-0.26%)
UNITY 14.00 Increased By ▲ 0.05 (0.36%)
WTL 1.15 Increased By ▲ 0.02 (1.77%)
BR100 4,070 Increased By 22.8 (0.56%)
BR30 14,550 Increased By 83.7 (0.58%)
KSE100 40,808 Increased By 135.3 (0.33%)
KSE30 15,249 Increased By 58.5 (0.39%)
Business & Finance

This financial expert told us about the Pakistan, Qatar LNG deal weeks ago

  • He said that the deal would be a long-term contract for 2 cargos per month at 20-25 percent discount to the existing deal.
Published February 27, 2021
Follow us

Pakistan has signed a new 10-year deal to import liquefied natural gas (LNG) from Qatar with shipments starting in January 2022.

The development which was announced by the government on Friday came as a surprise to many, however, economist Ali Khizar who heads BR Research, the research wing of Pakistan’s premier financial daily Business Recorder foretold about the deal more than three weeks prior to the official announcement.

“Good news from Qatar is expected in February,” said Khizar in a tweet post dated February 3, 2021, he said that the deal would be a long-term contract for 2 cargos per month at 20-25 percent discount to the existing deal.

Khizar was replying to a tweet from renowned journalist Najam Sethi, after Sethi said that Qatar is ‘very angry’ with the incumbent government for ‘maligning its gas deal and international reputation.’

Meanwhile, the deal struck with Qatar Petroleum will be for the supply of up to 3 million tonnes annually, with two cargoes a month initially, increasing to four a month in three years, the prime minister's special adviser on petroleum Nadeem Babar told a news conference on Friday.

It was told that the shipments under the deal will be 10.2% slope of Brent, which as per Babar was more than 30% cheaper than contracts with Gunvor, from whom Pakistan had been receiving one cargo a month.

Prices are expressed as a "slope" against Brent crude oil prices, meaning a percentage of that price, and are typically a pointer for the opaque spot LNG market.

Babar said one agreement with Gunvor had expired in December last year while another would expire in about 14 months and that the Qatar supply would replace them. He termed the agreement with Qatar the "lowest publicly disclosed contract in the world".

Comments

Comments are closed.

This financial expert told us about the Pakistan, Qatar LNG deal weeks ago

Intra-day update: rupee falls against US dollar

Fitch says PKR to further weaken

IMF revises Pakistan’s GDP growth projections downward

Govt plans to convert Rs800bn PHL debt into public debt

Paracetamol: govt to allow increase in price

Former CM Parvez Elahi claims his residence raided by police

Eight rockets fired at Turkish base in Iraq

Jul-Dec: govt has borrowed $5.595bn

Country braces for fuel shortages?

Nepra FCA decision: Power Div proposes revision