Pakistan, Qatar review LNG contract

Summary

• Pakistan and Qatar have agreed to review a multimillion-dollar liquefied natural gas (LNG) supply agreement as Pakistan faces a growing surplus of gas and declining demand.
• Sources said Pakistan State Oil (PSO) and QatarEnergy have issued notices to review their existing LNG agreements.
• The second agreement, signed during the Pakistan Tehreek-e-Insaf (PTI) government, has faced criticism because Pakistan’s LNG requirements had already started declining, contributing to a supply surplus in the domestic market.

AI Generated Summary

Pakistan and Qatar have agreed to review a multimillion-dollar liquefied natural gas (LNG) supply agreement as Pakistan faces a growing surplus of gas and declining demand.

The two sides have already agreed to divert 24 LNG cargoes to other destinations under the current year’s delivery plan, according to sources.

Sources said Pakistan State Oil (PSO) and QatarEnergy have issued notices to review their existing LNG agreements. PSO is now seeking approval from the federal government to proceed with the contract review.