A team from the largest crude oil producer of the world—Saudi Aramco is in Pakistan for discussing the first-ever liquefied natural gas (LNG) shipments, as per a top Pakistani official.
Pakistan is experiencing energy crisis with continuous power blackouts and gas supply outages that have moved to the dismissal of the heads of two of its main gas distribution utilities in the month of January.
The Saudi Aramco delegation reached Pakistan on Thursday, to discuss the LNG supplies, as informed by Nadeem Babar—the head of the PM’s task force on energy reforms.
He said that Saudi Aramco team is discussing LNG sales and talking about entering this business.
He added that Aramco is beginning an LNG trade operation and that there is this discussion going on about the complete aspects, which includes the terms and the quantity, etc.
Presently, Aramco is not producing LNG, and any such sale would be the first of its kind. Saudi Aramco has not responded so far to the request for comments.
Amin Naseer—the Chief Executive of Saudi Aramco said in the month of February that in the span of next 3-5 years, the Kingdom targets to export 3billion cubic feet per day of gas before 2030 through both pipelines and LNG tankers.
The Chief Executive of Pakistan LNG said that the demand for LNG in Pakistan could get more than 3 times in the next 3-5 years period. He also added that Islamabad was anticipated to have some more long-term agreements for importing LNG into the country.
Pakistan LNG is a government-owned entity that purchases LNG from the international market for supplying it to the local market.