Wednesday, May 25, 2016


Pakistan

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

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

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