ExxonMobil Signs Deal With Private Pakistani Firm To Supply LNG Amid Gas Shortage- Reports

ExxonMobil Signs Deal With Private Pakistani Firm to Supply LNG Amid Gas Shortage- Reports

ExxonMobil, the US oil giant, signed a deal with a Pakistani private company to supply liquefied natural gas (LNG) to the Middle Eastern country as the government aims to tackle its chronic gas shortage, media reported

MOSCOW (Pakistan Point News / Sputnik - 20th September, 2019) ExxonMobil, the US oil giant, signed a deal with a Pakistani private company to supply liquefied natural gas (LNG) to the middle Eastern country as the government aims to tackle its chronic gas shortage, media reported.

According to the Geo tv news outlet's Thursday report, the agreement was signed between ExxonMobil and the Universal Gas Distribution Company (UGDC) in the presence of senior officials from the country's energy ministry.

The first shipment of LNG is expected by next month, the outlet said, citing an energy ministry official.

Pakistan has been eager to attract foreign investment and companies to explore the more than 30 onshore gas blocks that have been identified in the country. Reportedly, Pakistan currently imports roughly 80 percent of its energy requirements from the international market.

Pakistan faces an acute gas deficit. According to the country's Oil and Gas Regulatory Authority, gas demand was estimated at about 6.9 billion cubic feet per day for 2017/2018 and is expected to rise to about 7.06 billion cubic feet per day for 2019/2020.