LNG Deal with Qatar: Startling revelations surface in multi billions dollar deal by Pakistan
LAHORE – PTI government will not cancel the Liquefied Natural Gas (LNG) deal with Qatar, sources have revealed.
The first agreement was inked between the PSO and Qatar Gas Operating Company Limited in March 2015, while the second agreement was signed between the PSO and Qatar Liquefied Gas Company Limited. The Pakistan Tehreek-e-Insaf government was not allowed to cancel or reduce the prices without the consent of Qatri companies.
Violating the PPRA rules, former PSO managing director Shahid Islam had signed a long-term first contract with Qatar on March 2015 on the directions of former petroleum minister Shahid Khaqan Abbasi. Under the act, the PML-N government purchased four LNG cargoes worth Rs10 billion at an expensive rate and violated the law.
These agreement have bounded Pakistan to purchase LNG worth $2 billion every year in next ten years. The report also said that Pakistan has to pay a heavy penalty if it purchases less than the fixed quantity of LNG.
The agreement with Qatar was singed for 15 years which will end On December 31, 2031. Pakistan is bound to keep the conditions of contract as secret. Pakistan also needed a permission of Qatar if they want to share information about the contract to the public level.