Accessibility links

Breaking News

Pakistan Signs 'Game-Changing' Deal With Qatar For Gas


South Pars gas field facilities in the southern port of Assaluyeh on the shore of the Gulf.
South Pars gas field facilities in the southern port of Assaluyeh on the shore of the Gulf.

Qatar has signed a deal with Pakistan to export up to 3.75 million tons of liquefied natural gas a year, the Persian Gulf state's media reports.

The agreement was signed on the first day of two-day visit to Qatar by Pakistani Prime Minister Nawaz Sharif.

Media reports in Pakistan on February 10 estimated the deal was worth $16 billion.

Pakistani Petroleum Minister Shahid Khaqan Abbasi said the deal will fill about 20 percent of the South Asian country's gas needs.

Abbasi told Pakistan media that the deal was a "game-changer" for his country, and would help save the country $1 billion a year.

Pakistan currently faces a severe shortage of natural gas, both for electricity generation and industrial use.

Supplies of the gas could start as early as March, and would continue through 2031 under the long-term deal, Qatar news agencies reported.

Based on reporting by AFP and Business Standard
XS
SM
MD
LG