Earlier this year, Pakistan allowed its private sector to import LNG as the oil & gas regulatory body issued import licenses to at least 2 companies
Islamabad, June 29 - Neftegaz.RU.State-owned Pakistan State Oil, Pak-Arab Refinery and Pakistan
LNG will receive a $4.5 billion loan to fund imports of
crude, petroleum products, urea and LNG over 2021-2023.
Pakistan signed the 3-year agreement with Saudi Arabia-based International Islamic Trade Finance Corporation (ITFC), the government said on June 28.
The framework agreement was signed virtually by ITFC CEO Hani Salem Sonbol and Noor Ahmed, secretary in
Pakistan’s ministry of economic affairs.
Sonbol said:
- We are delighted and we will continue to mobilise financial resources to support Pakistan in its endeavours to achieve its economic targets through the new framework agreement
Pakistan signed a similar loan agreement with ITFC in February this year, when the country agreed to borrow $1.1 billion to fund imports of oil, LNG and petroleum products.
The South Asian nation, which started importing LNG in 2015, has 2 operational floating import terminals, both in Port Qasim near Karachi.
