ISLAMABAD: The federal government has hailed Qatar for joining the LNG terminal being set up by Energas. At present, two companies-Energas and Tabeer Energy are setting up two LNG terminals.

Federal Minister of Energy Hammad Azhar and Minister of Energy and Chief Executive of Qatar Energy Saad Sherida al-Kaabi held a meeting through video conference Tuesday. Qatar had shown interest to become a partner in the Energas LNG terminal.

The Energas is a consortium of Pakistani leading companies. The government has already allocated 600mmcfd pipeline capacity to these two LNG terminal operators. They are expected to complete LNG terminal projects in 2023.

After setting up these two LNG terminals, Pakistan’s reliance on gas imports will further increase. Pakistan and Qatar have also pledged to further deepen energy sector collaboration.

LNG market & its challenges—II

Welcoming the decision of Qatar Energy to invest in setting up the LNG terminal in partnership with a consortium of leading Pakistani companies, Hammad Azhar assured all possible support from the public sector. He hoped that the Financial Investment Decision (FID) will be concluded soon. He underscored that this project will be another milestone in the energy security of Pakistan.

Azhar thanked Qatar for ensuring timely supplies of liquefied natural gas (LNG) to Pakistan despite, its shortage globally. Both sides discussed further promoting bilateral ties, particularly in the energy sector.

Pakistan had signed a 10-year long LNG contract with Qatar in February 2021. Under the contract, Pakistan will get 3 million tonnes of LNG per year from Qatar Energy under the deal from January 2022. However, Qatar started early supplies from November 2021 on government request.

Copyright Business Recorder, 2022