Home > Business > More LNG Tenders

More LNG Tenders

Pakistan aims to issue two international tenders for the import of 750,000 tons of liquefied natural gas (LNG) per year each in the coming month. This is announced by the head of state-owned LNG Company. This decision has been taken to alleviate Pakistan’s shortfalls.

Pakistan’s economy has been continuously confronting energy shortage challenges. Present government has also promised people to end electricity blackouts by the end of 2018. According to the head of Pakistan LNG, a new state-owned company is set up for the management of procurement and supply of gas. Different firms from Malaysia, Australia, Qatar, Russia, America and Azerbaijan are interested in two tenders.

Half a dozen participants are interested in bidding the last international tender and much more is expected in the coming days. Details of the tenders are being finalized. Most of them would be of 5 or 15 years. Pakistan has invested billions of dollars into LNG infrastructure that also includes construction of a second import terminal and pipelines linking the port city of Karachi with Lahore in Punjab, which is the industrial hub.

Pakistan is facing the high demand for the oversupplied LNG market. Currently, Qatar is the largest LNG supplier because it has signed two term supply contracts with us this year. Pakistan is dependent on the expensive furnace oil imports to plug energy shortfalls. Officials expect the LNG imports to lower the cost of energy. There would be separate government to government LNG deals. Pakistan is expecting more international bids this year.

Afreen is a young writer and visionary towards life predominantly. I believe that writing is similar to life; it inspires surprises and creates. Being a Literature Masters, I am passionate about viewing the world with literary spectacle. Solely in love with this beautiful part of Universe called Pakistan, I am creating words and ideas for CharchaGuru.

Share this article
POST A COMMENT
USER COMMENTS

Pakistan, Qatar si

February 10, 2016 was marked the day of signing the long-awaited multi-billion dollar deal between Pakistan and Qatar related to liquefied natural gas (LNG). Th...

Privatization of P

The recent chaos on the privatization of PIA has created a lot of debate among the entire nation. There are people favoring this privatization and others, which...

Pakistan & Iran Re

Finally, relations between Pakistan and Iran go on the next level by reaching the ferry level! As announced by the Pakistan’s Minister for Ports and Shipp...

More LNG Tenders

Pakistan aims to issue two international tenders for the import of 750,000 tons of liquefied natural gas (LNG) per year each in the coming month. This is announced by the head of state-owned LNG Compa...