Qatargas and Pakistan-based Global Energy Infrastructure Limited (GEIL) have signed a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) at a ceremony hosted by Pakistan Prime Minister Mohamed Nawaz Sharif in Islamabad.
Under the terms of the agreement, Qatargas will supply 1.3mn tonnes per year of LNG to Pakistan for 20 years, with provisions allowing the volume to increase to 2.3mn tonnes per year.
The LNG will be supplied from Qatargas 2, the world’s first fully integrated LNG value chain venture, with the first cargo expected to be delivered to Pakistan in 2018 by Qatargas-chartered Q-Flex vessels.
The Qatari delegation was led by Saad Sherida al-Kaabi, Qatar Petroleum president and CEO and chairman, Qatargas board of directors, accompanied by Sheikh Khalid bin Khalifa al-Thani, Qatargas CEO and senior Qatargas officials.
The Qatari delegation was welcomed by the Pakistan prime minister along with federal ministers and senior government officials.
Al-Kaabi thanked Mohamed Nawaz Sharif for his warm hospitality and for hosting the signing of the long-term LNG supply deal with GEIL.
At the ceremony, al-Kaabi said: “The agreement with GEIL reinforces our confidence in Pakistan as a promising energy market. It also enables us to meet Pakistan’s energy needs from the world’s most reliable LNG producer, thus enhancing our long and historic brotherly relations.”
He said the agreement also demonstrated “our confidence in LNG, and natural gas in general, as a clean energy source that is instrumental in reducing greenhouse gas emissions globally”.
On the newly-signed deal, Sheikh Khalid said: “Qatargas is pleased to commemorate the signing of a 20-year deal with GEIL for the supply of LNG into Pakistan. I am particularly pleased to strengthen our relationship with Pakistan, which continues to grow as an important LNG market. I have great confidence in this deal, and I look forward to our respective teams working together as we safely and reliably supply LNG to Pakistan.”
Prime Minister Nawaz Sharif witnesses the exchange of documents after the signing of the 20-year liquefied natural gas sale and purchase agreement between Qatargas and Pakistan-based Global Energy Infrastructure Limited. The agreement was signed on behalf of Qatargas by its chairman Saad Sherida al-Kaabi. Al-Kaabi leads Qatar’s high-level delegation in talks with Pakistan Prime Minister Mohamed Nawaz Sharif and other senior officials.