Pakistan could secure liquefied natural gas supplies from France, Spain and Italy as talks are ongoing with Engie, Gas Natural Fenosa and Eni.
The deals were initiated by the European companies first, however, regulations hampered further progress, a government official told Reuters.
In order to keep in line with the EU regulations, Pakistan is seeking to sign intergovernmental deals that would unlock the doors for the supply of LNG from Europe to Pakistan.
Commercial negotiations, led by state-owned Pakistan LNG, would begin with Engie, Gas Natural Fenosa and Eni as soon as the intergovernmental deals are signed.
These deals would enable Pakistan to boost its LNG imports, especially after inaugurating the second LNG import terminal in Karachi during last week. The terminal would receive about four cargoes per month totaling some 3 million tons of LNG per year.
Pakistan’s prime minister Shahid Khaqan Abbasi said the country is looking to import 30 million tons of LNG per year as the country looks to secure feed gas for power plants. He added five additional terminals are being worked on.
LNG World News Staff