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Pakistan Is In Talks To Import LNG
Dec 04, 2017

Pakistan is in talks to import LNG from France, Italy and Spain, raising the prospect of new contracts for Engie, Eni and Gas Natural Fenosa.

Pakistan has been seeking intergovernment agreements (IGAs) with various nations across the world to increase its LNG imports in response to its chronic energy shortages.

It recently opened its second LNG import terminal in Karachi and Prime Minister Shahid Khaqan Abbasi said up to five more terminals were in the works.

Reports suggest that Islamabad aims to source about 3 million tpy of LNG for the new terminal through IGAs, or about four cargoes per month.

Abbasi said he expected Pakistan’s demand to grow to 30 million t in three years from 4.5 million t currently – an expansion that would make the nation a major LNG importer.

Pakistan is already one of the fastest-growing LNG markets, and has attracted interest from a variety of producers including Shell and ExxonMobil and traders such as Trafigura and Gunvor.