Pakistan LNG Replaces CEO

State-run Pakistan LNG (PLL) has replaced its CEO, the company said on Twitter August 24.

“PLL informs its stakeholders that Mr. Shahid Yousaf is appointed as CEO and Mr M. Adnan Gilani will no longer be associated with PLL and we wish him best in his future endeavours. Mr Yousaf brings a vast and rich experience of [the] LNG / gas sector to lead and grow the operations of PLL,” the company tweeted.

According to Pakistani media reports the board of directors of PLL accepted Gilani’s resignation August 22 with immediate effect. The board had called an emergency meeting after prime minister Imran Khan took notice in the wake of anti-corruption watchdog’s probe into his appointment, The Express Tribune reported August 23. PPL has however denied that Gilani had been replaced due to any graft investigation.

Pakistan’s LNG sector has been mired in controversy due to allegations of corruption surrounding an LNG deal with Qatar. Last month, ex-prime minister of Pakistan Shahid Khaqan Abbasi was arrested by National Accountability Bureau (NAB). He was charged in a multi-billion-rupee case, relating to the award of a Qatari LNG import contract. Earlier this month, NAB arrested ex-finance minister of Pakistan Miftah Ismail in the same case.

Pakistan State Oil and Qatargas signed in 2016 a 15-year sale and purchase agreement for 3.76mn mt/yr indexed to the price of Brent oil.