Gazprom and Pakistan consider possibility of Russian LNG supplies
RELEASE
Release
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Shahid Khaqan Abbasi, Minister of Petroleum and Natural Resources of the Islamic Republic of Pakistan.
The parties considered promising areas of cooperation, particularly addressing the possibility of Russian LNG supplies to Pakistan and Gazprom’s participation in hydrocarbon exploration and production projects in the Republic.
Background
Being the sixth-largest in Asia-Pacific (after Australia, China, Indonesia, India and Malaysia), Pakistan’s recoverable natural gas reserves amount to 570 billion cubic meters.
In 2014 Pakistan produced 42 billion cubic meters of natural gas. The total volume of gas produced in the country is consumed domestically.
The main natural gas producers in Pakistan are the state-run companies Oil and Gas Development Corporation (OGDCL) and Pakistan Petroleum Ltd. (PPL).
The first LNG terminal in Pakistan with an annual capacity of 3 million tons was put into operation in March 2015.