Qatar, the world’s top supplier of liquefied natural gas, will invest in Pakistan’s next import terminal in a bid to support one of the fastest-growing buyers of the super-chilled fuel.
Qasim Terminal Holding Co., a subsidiary of Qatar Energy, has applied for clearance with Pakistan’s government to take a stake in Energas Terminal Pvt., according to people familiar with the matter. Qatar Energy and Energas did not respond to requests for comments while Pakistan’s competition commission declined to comment.
The deal comes as Qatar plans to dramatically increase production over the next decade, which will require the Middle Eastern nation to find more buyers for its fuel. Qatar is already Pakistan’s largest gas supplier with its latest long-term deal slated to start this year.
Energas’ terminal will be the nation’s largest with a capacity to import 1 billion cubic feet of gas a year. Pakistan currently operates two LNG terminals, while Energas and Japan’s Mitsubishi Corp. are vying to build the nation’s first two private projects.
Pakistan is going to dominate LNG growth in emerging Asia along with Bangladesh and Thailand over the next five years. The three nations will almost double LNG imports over 2021-25, according to BloombergNEF.
Source: BloombergTags: Fuel, LNG Import, Pakistan, Qatar, Terminal