ISLAMABAD: Minister for Petroleum and Natural Resources Dr Asim Hussain said on Thursday that Pakistan plans to import 500 Million British Thermal Unit (mmbtu) LNG from Qatar to meet its energy requirements.
Hussain told the National Assembly during the question hour that an agreement to this effect has been signed with Qatar and added that the price of LNG is yet to be decided between the two countries.
However, he said, that the price will be in accordance with the prevailing international prices in the region.
The minister expressed with confidence that the supply of LNG from Qatar will be started within one and a half year.
Pakistan had signed a memorandum of understanding with Qatar in February for import of 500 mmcfd of LNG to generate 2,500 megawatts (MW) electricity.
Earlier this month, an official stated that Qatar has demanded for a hefty amount of $18 per mmbtu for LNG import to Pakistan.
COMMENTS (5)
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We hv enough to import to Qatar and not buy from them...but due to corrupt rulers...we cannot exploit it....refer to Zaid Hamid and Riaz Haq's estimates on our fuel resources...Allah has given us enough to feed the whole world for hundreds of years...that is our potential
One day we hear that a Turkish firm will produce thousands of KV of electricity from wind and next day we hear Chinese firms will generate thousands of KV of electricity from coal deposits in Thar desert.After a long pause,our scientists step in and declare that they can generate enough electricity to meet the countrys' demand by underground gasification of Thar coal . After doubtful Iran gas deal we now have Qatar LNG project.We know govt is serious and will sort out the pricing later on. Surprisingly solar energy is not on the shopping list of the govt.Underground gasification of coal is not commercially tested method of generating electricity but solar panel technology is tested and working efficiently even in courtries with clouds most of the year.Wind and sunlight are cheapest raw materials which Pakistan must think seriously to utilise.
Import this and import that.
Has anyone looked at our trade deficit over the past fifty years?
True, you can argue that importing in this case will lead to higher production and higher exports.
As for price, let us not have another susbsidy burdening the budget.
What country announces that they are going to buy a product from someone before they have determined the price? Why doesn't Pakistan have competitive bidding on LNG contract - or is Qatar the only country that will do business with Pakistan?