Port Qasim LNG terminal LOI faces Nov 2026 PQA deadline
Lucky Group and QatarEnergy’s Energas cites energy-policy shifts and open fiscal issues; Port Qasim Authority may cancel the final LOI unless acceptance comes by 30 November 2026.
Energas, involving Lucky Group and QatarEnergy, has withdrawn from its plan to build an LNG terminal at Port Qasim.
The consortium cited changes in Pakistan’s energy policy and unresolved fiscal and regulatory issues.
Port Qasim Authority says it will cancel the final letter of intent unless Energas gives unconditional acceptance by 30 November 2026.
Chairman Muhammad Ali Tabba asked Prime Minister Shehbaz Sharif to refund the $2 million concession fee; PQA rejected the request as non-refundable under 2019 guidelines.
Tabba pointed to a March 2025 Integrated Energy Study and the June 2021 end of a five-year tax holiday under IMF conditions.