According to Reuters, Pakistan State Oil has cancelled a deal to purchase 60 LNG cargoes from Royal Dutch Shell. The deal, which was worth almost US$1 billion, has been cancelled following a lower price offered by Qatar.
Shareholders from both companies will vote on the new deal, which is expected to be finalised by 15 February 2016.
Reuters reports that the LNG cargoes will be supplied by Qatar at 13.37% of the price of a barrel of crude oil. In the 2016 – 2020 period, the trading house, Gunvor, will deliver an additional 60 cargoes to Pakistan for the same price.
Edited from various sources by David Rowlands
Read the article online at: https://www.lngindustry.com/regasification/18012016/pakistan-favours-lng-deal-with-qatar-over-shell-1880/