Pakistan imports first Qatar LNG cargo under multi-billion deal

Pakistan received on Wednesday a cargo of chilled gas onboard the 216,200-cbm Q-Flex LNG tanker Al Gattara at the country’s LNG import terminal in Port Qasim.

This is the largest LNG carrier to dock at the Port Qasim facility and marks the start of the long-term deal signed in February between Pakistan State Oil Company (PSO) and Qatargas.

The Qatargas chartered Q-Flex LNG tanker is owned and operated by world’s largest LNG shipper, Nakilat.

The Al Gattara brought the 21st cargo of liquefied natural gas since Pakistan began importing LNG in March 2015 in order to replace conventional fuels to fire its power stations.

PSO said earlier that Pakistan negotiated “the lowest price amongst all other LNG offerings” with the price for each cargo discharged “in a particular month standing at 13.37% of a three-month average Brent value,”  or $5.35/MMBtu at the time of the contract signing. The long-term deal was reported to be worth about $16 billion.

According to local media reports, Pakistan will each month import 3 LNG cargoes under the Qatargas deal and one spot cargo from Gunvor.

Pakistan is importing chilled gas through Excelerate Energy’s 150,900 cbm FSRU Exquisite, chartered by Engro Elengy, located at the Port Qasim in Karachi.

LNG World News Staff