Report: Pakistan’s $16 billion LNG import contract the biggest in Q1

Report: Pakistan’s $16 billion LNG import contract the biggest in Q1

The biggest liquefied natural gas (LNG) contract among all importing countries in the first quarter of this year was signed by Pakistan, according to research and consulting firm GlobalData.

Qatargas, the world’s largest LNG producer signed a long-term deal to supply Pakistan State Oil Company (PSO) in February.

Under the deal, Qatargas 2 will supply 3.75 million tonnes per annum of LNG to PSO for a period of 15 years. The first cargo was delivered in March this year. The LNG supply deal was reported to be worth about $16 billion.

According to a report by GlobalData issued last week, the second largest contract signed during the first quarter was between Veresen and JERA. Under the preliminary agreement, Jera, a joint venture between two Japanese utilities, Tepco and Chubu Electric, agreed to book at least 1.5 mtpa liquefaction capacity at the Jordan Cove terminal for a period of 20 years.

In addition, another contract was signed between the US and Japan which will allow Tokyo Gas to import 0.2 mtpa of LNG during 2020 to 2039. Tokyo Gas signed the deal with a Mitsubishi Corporation unit to buy liquefied natural gas from Sempra’s Cameron LNG export project in Louisiana.

Two contracts signed between Chevron and ENN Group, and Origin Energy and ENN Group jointly constitute the third largest contracts signed by volume in the quarter, according to the report.

Each of the contracts will supply 0.5 mtpa of LNG to the ENN Group.

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