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    Pakistan Ditches LNG Tender: Press

Summary

Pakistan is set to play a key role in driving global LNG growth in the coming years.

by: Joseph Murphy

Posted in:

Natural Gas & LNG News, Asia/Oceania, Liquified Natural Gas (LNG), Corporate, Import/Export, Contracts and tenders, News By Country, Pakistan

Pakistan Ditches LNG Tender: Press

Energy-starved Pakistan has scrapped a tender for the purchase of 33.6mn m3 of LNG – equivalent to 20bn m³ of pipeline gas – over the next decade, sources told Reuters on October 15.

State-owned Pakistan LNG opened the tender in early June, seeking to import 240 LNG cargoes of 140,000 m3 over a 10-year period at the country’s second LNG terminal. It changed its mind because of weak demand for LNG, one source said.

Pakistan launched its first LNG terminal at Port Qasim near Karachi, managed by Engro Elengy, in 2015, followed by its second GasPort terminal nearby two year later. The country is set to play a key role in driving global LNG demand growth in the coming years, with the government recently clearing five consortiums to proceed with plans for new terminals. Islamabad aims to boost annual LNG imports to 14mn mt (about 19bn m³ of pipeline gas) by 2022 and 21mn mt by 2025, up from just 6.7mn mt last year.