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SC directs NAB to submit report on LNG agreement with Qatar

SC directs NAB to submit report on LNG agreement with Qatar

ISLAMABAD: The Supreme Court on Tuesday directed the National Accountability Bureau (NAB) to submit a report on liquified natural gas (LNG) agreement with Qatar that was signed during the previous government’s tenure.

The apex court was hearing a petition filed by a citizen pertaining to the LNG contract. According to the petition, the national exchequer cut losses worth billions of dollars due to the contract.

As the hearing went underway on Tuesday, Chief Justice of Pakistan Mian Saqib Nisar noted that a representative of the NAB should have been present in court. The court then ordered NAB to immediately submit the details.

During the Pakistan Muslim League-Nawaz (PML-N) government’s tenure, former petroleum minister Shahid Khaqan Abbasi had signed the LNG contract with Qatar.

As per the contract, Pakistan will be able to purchase LNG from Qatar for the next sixteen years.

According to Bloomberg, Pakistan saved more than $600 million over the first 10 years of a natural gas supply deal by playing gas firms off each other and entering a contract with Qatar.