Pakistan's First LNG Terminal to be Ready by November

Pakistan expects its first LNG terminal at Karachi to be ready by November this year, Business Line newspaper reported Wednesday.

Country’s Petroleum and natural resources Minister Shahid Khaqan Abbasi told media on the sidelines of Pakistan Oil and Gas 2014 summit that LNG deal with Qatar is yet to be approved by the federal cabinet but the contract for building the terminal in Karachi was awarded, Business Line added.

He denied reports that import price of Qatari LNG was finalized.

"The price is yet to be determined and it is a government to government process. Obviously we will go for the minimum possible price," the minister was quoted by the newspaper as saying.

In response to questions on the differences in the Gulf Cooperation Council and if they could impact the LNG deal, he said it had no impact. Pakistan intends to import 400 mmcfd (million cubic feet a day) of LNG and apart from Qatar, it will also look at other countries for supplies, he said.

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