Pakistan is likely to Request the Reduction of LNG Supply

Pakistan is likely to Request the Reduction of LNG Supply

ISLAMABAD: Pakistan is likely to request the reduction of Liquefied Natural Gas (LNG) supply under a long-term agreement with Qatar due to a slowdown in energy demand due to economic slowdown.

According to the sources said that at a meeting of the Economic Coordination Committee (ECC) of the cabinet on November 28, Haveli Bahadur Shah in Punjab and National Power Parks Management Company (NPPMC) in Bulloki were 2650 MW. Recent negotiations on the proposal for the reduction of risks due to the privatization of 2 LGN plants were discussed.

According to sources in the Petroleum Ministry, Prime Minister's Adviser to the Finance Dr. Abdul Hafiz Sheikh had proposed dialogue in Qatar.

Prime Minister's Special Assistant for Petroleum Nadeem Babar informed the ECC earlier that Qatar had not accepted the LNG price cuts at the highest level.

He said that during the Prime Minister's visit to Doha earlier this year, then Finance Minister Asad Omar had requested Qatar to reduce the price of LNG supplied to Pakistan under a 15-year agreement.

Nadeem Babar said that Qatari authorities had said 26 similar agreements with other countries and the question of LNG price reduction does not arise.

However, Qatari authorities were ready to consider another plan to reduce Pakistan's deficit, so two options were considered, including foreign exchange reserves of Qatar in Pakistani banks and a surplus of LNG at lower rates. Supplies are included.

Among them, the option of supplying additional LNG was rejected by the then Minister of Petroleum Ghulam Sarwar Khan.

Dr. Hafiz Sheikh directs petroleum division to seek new options to change LNG supply contract with Qatar and Pakistan will be ready to approve price difference


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