With an ambitious plan to double the volume of liquefied natural gas (LNG) imports this year, the Pakistani government intends to ink multibillion-dollar state-to-state gas supply contracts with big African producers – Nigeria and Algeria, The Express Tribune reports.
Pakistan is currently importing 4.5 million tons of LNG per annum and the volume will shoot up to 9 million tons before the end of this year. Projections show that Pakistan will annually need 20 million tons of LNG within three years and 30 million tons in five years. A draft agreement is to be presented in the cabinet for ratification before clinching deals with Nigeria and Algeria for LNG imports. This will be followed by the inking of commercial contracts for implementation of the proposed plan.
Although Nigeria LNG’s production dropped 1.8 million tons in 2016, the company still kept its position as one of the top five LNG exporters in the world. According to the International Gas Union’s World LNG 2017 report, Nigeria was one of the top five LNG exporters by share between 2015 and 2016. The order of top five exporters by share is Qatar, Australia, Malaysia, Nigeria and Indonesia.topics from