ISLAMABAD: The Economic Coordination Committee (ECC) that meets today (Thursday) with Adviser to Prime Minister on Finance Revenue and Economic Affairs Dr Abdul Hafeez Shaikh likely to accord approval to additional import of 200 mmcfd LNG from Qatar, a senior official of Petroleum Division told The News.The agenda of the ECC meeting also says that price Negotiation Committee (PNC) headed by the secretary petroleum will brief the meeting on further import of LNG.The official said that the sitting government will import additional 200 mmcfd LNG from Qatar at 20 percent less price against what the PML-N government had finalised at 13.37 percent of the Brent for 15 years. This will also be different from the 15-year agreement reached by the PML-N government with Qatar as in that agreement after 10 years, price can be renegotiated, but in this deal with the Qatar, after five-year time, the facility to renegotiate the LNG will be available.“We have carved out various options, one is to import just 200 mmcfd more LNG, and in this case it will be imported from Qatar and second is in case of 400 mmcfd import of LNG then we will also include those three countries which have submitted their revised downward bids for 100 mmcfd each. We have signed inter-government agreements (IGAs) with seven countries out of which we received three bids and the lowest bid was shared with Qatar. In turn, Qatar offered lower LNG supply than the lowest bid received earlier,” said the official.When asked if three countries, which came up with bids under GAs have expressed concern with the government as their lowest bid has been used to get more favourable rates from Qatar putting their government to government relations with the countries, from where Pakistan got three bids under IGAs, at stake as it is not less than deceiving them, the official said: “No, not at all, as the Petroleum Division when approached Qatar authorities concerned after getting the bids from the three countries under IGAs telling Doha that this rate Pakistan has got now what is offer from Qatar. Then in return Qatar lowered the rate from the lowest bid from the said countries Pakistan had. After that, Pakistan approached the three said countries which had submitted their bids telling them to match Qatar’s offer and they lowered their bids but not at the level of Qatari offer.”
05-31-2019, 12:25 AM
Govt to buy LNG from Qatar at 20pc less price
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