ISLAMABAD, Sep 26(ABC): Qatar is awaiting progress on ‘reforms’ Pakistan assured last month to facilitate about $3 billion investment in the country as part of foreign financing arrangements required during the current fiscal year under the International Monetary Fund (IMF) programme.
Qatar has been seeking pipeline capacity allocation to transport liquefied natural gas (LNG) through a terminal it plans to set up with local partners near Karachi, level playing field for LNG marketing and a terminal, and exemption from third-party access (TPA) that requires certain terminal capacity for use by government entities.
Ahead of Prime Minister Shehbaz Sharif’s Aug 23-25 visit to Qatar, the Economic Coordination Committee (ECC) of the cabinet on Aug 19 approved changes to the LNG policy to remove restrictions on upcoming private sector LNG terminals to provide their part capacity to the government. The amendments were soon ratified by the cabinet.
During the visit, Minister of State for Petroleum Musadik Malik sought his Qatari counterpart’s intervention to “re-engage” on LNG sector cooperation, including speedy completion of the LNG terminal and another long-term contract for more gas supplies on top of two existing long-term contracts in addition to LPG supplies.