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LNG: No Decision Yet on Pakistan / Qatar LNG Deal Renegotiation: Malik

LNG
Energy BulletsBulletAPACCommodities

No decision has yet been made on whether to initiate LNG renegotiation talks with Qatar next year, according to Pakistan's petroleum minister Musadik Malik cited by Reuters.

  • Malik was reacting to a quote in local newspaper The News that "the Qatar agreement is costly, and we will negotiate better terms next year."
  • "One provision was price renegotiation could take place at the 10th year of the Qatar LNG deal," he said referring to an existing LNG deal, but Pakistan has a year to "figure out its options".
  • Pakistan's biggest LNG deal for 3.75m tons of LNG a year for 15 years was signed in 2016 between Pakistan State Oil and Qatar's Qatargas-2 but with a cancellation option at 11 years if a new price cannot be agreed.
  • In December, Malik said Pakistan had deferred buying 5 LNG cargoes from Qatar and is in talks to defer another 5 cargoes in 2025 amid low power consumption due to an economic crisis.
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No decision has yet been made on whether to initiate LNG renegotiation talks with Qatar next year, according to Pakistan's petroleum minister Musadik Malik cited by Reuters.

  • Malik was reacting to a quote in local newspaper The News that "the Qatar agreement is costly, and we will negotiate better terms next year."
  • "One provision was price renegotiation could take place at the 10th year of the Qatar LNG deal," he said referring to an existing LNG deal, but Pakistan has a year to "figure out its options".
  • Pakistan's biggest LNG deal for 3.75m tons of LNG a year for 15 years was signed in 2016 between Pakistan State Oil and Qatar's Qatargas-2 but with a cancellation option at 11 years if a new price cannot be agreed.
  • In December, Malik said Pakistan had deferred buying 5 LNG cargoes from Qatar and is in talks to defer another 5 cargoes in 2025 amid low power consumption due to an economic crisis.