ExxonMobil Signs Deal to Supply LNG to Pakistan

Source Press
Company ExxonMobil 
Tags Oil & Gas Trading, LNG & Gas Storage/Processing
Date September 19, 2019

(Dawn) ExxonMobil has signed an agreement with Pakistan's Universal Gas Distribution Company (UGDC) to supply liquefied natural gas (LNG) to Pakistan's transport sector.

“After the agreement, the first shipment of LNG is expected by the next month which will change the entire gas landscape in Pakistan,” said a statement issued by Petroleum Division of the Ministry of Energy.

The agreement was signed in Houston, Texas by Vice President of ExxonMobil Richard Rayfield and Chief Executive of UGDC Ghiyas Abdullah Paracha and witnessed by Special Assistant to the Prime Minister on Petroleum Nadeem Babar. A large entourage of the government is currently in the United States to attend Gastech, an annual LNG conference.

Mr Paracha said the agreement initially covered four cargoes in the first year that would gradually increase over time depending on the revival of Pakistan's CNG sector. He said the first cargo was being arranged for end-October for which legal framework was already in place and the prime minister had strongly focused on the Ease of Doing Business to revive investor confidence.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd