Gazprom Chairman Alexei Miller hosted a delegation from the Pakistani Energy Ministry in Moscow on January 21 to discuss the potential for future cooperation.
Abbasi said that the country's needs for LNG will amount to 15 million tons per year. According to the official publication, Gazprom is set to deliver LNG from its storage to Pakistan. In 2015, it amounted to 3.5 million tons. For delivery of 5 million tons, Gazprom will sign new contracts for the purchase of gas on the market, that is, it will be trading operations not tied to a particular plant or LNG producer.
In 2014 Pakistan produced 42 billion cubic meters of natural gas. The total volume of gas produced in the country is consumed domestically but the demand is rising and the supply is not enough.
In July 2014, the Pakistani government approved the construction of three LNG terminals, including the Engro LNG Terminal. The first shipments of LNG began to arrive at the terminal in July 2015, via a floating, storage and regasification unit (FSRU).
It is planned that the pipeline will be completed by 2018, and by 2020 it will be put into full operation. The contract value is estimated at $ 2 billion. Rostec has already held an initial engineering training of the project, studying the project documentation and reviewing options for pumping tariffs.