Russia orders to conclude LNG pact with Pakistan

MOSCOW: Russian liquefied natural gas (LNG) is increasingly entering the world market, with Russian Prime Minister Dmitry Medvedev now having instructed the Ministry of Energy to prepare and sign an agreement with the Pakistani authorities on the supply of LNG.

According to a Georgia Today report, published on Oct 30, the intergovernmental agreement will be concluded for three years with automatic prolongation for the same period, the number of prolongations thereafter unlimited- a necessary detail for the Pakistani authorised company to conclude a long-term contract with Gazprom without conducting a tender.

The company-buyer of Russian LNG will become state holder ‘Pakistan LNG Ltd.’ and coordinators of the implementation of the agreement will be the Ministry of Energy of the Russian Federation and the Ministry of Energy of Pakistan.