Qatar and Pakistan sign ‘$16 billion’ gas deal

Qatar signed a long-term deal with Pakistan on Wednesday to export liquefied natural gas, according to state media in the Gulf.

Qatar signed a long-term deal with Pakistan on Wednesday to export liquefied natural gas, according to state media in the Gulf.

The deal was signed on the first day of two-day visit to Qatar by Pakistani Prime Minister Nawaz Sharif. (Reuters File)

The deal will see Qatar export up to 3.75 million tonnes of liquefied natural gas a year, according to Pakistan’s petroleum minister, Shahid Khaqan Abbasi.

This represents around 20% of the south Asian country’s gas requirements.

The Qatar News Agency (QNA) confirmed the deal had been signed in a statement posted on its website.

Supplies of the gas could start as early as March, according to the QNA.

Media reports in Pakistan estimated the deal was worth $16 billion (14 billion euros).

Abbasi told Pakistan media that the deal was a “game-changer” for his country, and the deal would help save the country one billion dollars annually.

Pakistan currently faces a severe shortage of natural gas, both for its electricity generation and industrial use.

The deal was signed on the first day of two-day visit to Qatar by Pakistani Prime Minister Nawaz Sharif.