Word from Industry
Qatargas, PSO sign multi-billion dollar LNG deal
February 11, 2016
Qatargas, the world’s largest LNG producer has signed a long-term deal to supply Pakistan State Oil Company (PSO) with liquefied natural gas.
Under the deal, Qatargas 2 will supply 3.75 million tonnes per annum of LNG to PSO for a period of 15 years with the first cargo expected to be delivered in March this year, Qatargas said in a statement on Wednesday.
Qatargas 2 is a joint venture between Qatar Petroleum, ExxonMobil and Total.
It was reported in November 2015 that PSO is planning to sign a deal to import 1.5 million tonnes of LNG per year from the world’s largest LNG producer. The deal was reported to be worth about $16 billion.
Pakistan began importing LNG in March last year in order to replace conventional fuels to fire its power stations.
The country is importing chilled gas through Excelerate Energy’s 150,900 cbm FSRU Exquisite, which is chartered by Engro Elengy, located at the Port Qasim in Karachi. Qatargas also delivered the first commissioning cargo to PSO onboard the Exquisite.
The Port Qasim facility received 17 cargoes or one million tons of LNG by the end of December.
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