In 2014, Pakistan entered into a 15-year agreement with Engro Elengy Terminal Limited for the deployment of the Floating Storage and Regasification Unit (FSRU) Exquisite at Port Qasim.

The contract did not incorporate force majeure provisions applicable to Pakistan’s payment obligations. In 2016, Pakistan contracted a second LNG terminal with Pakistan GasPort Consortium Limited for the FSRU BW Integrity, also under a long-term, capacity-based framework. This contract, too, did not provide force majeure relief for Pakistan’s payment obligations. Cold truth: Two terminals. Two contracts. One common feature: payment without pause. In February 2016, Pakistan entered into a 15-year LNG supply agreement (2016–2031) with QatarEnergy for approximately 3.75 million tonnes per annum, priced at a Brent-linked slope of 13.37 percent. The contract includes force majeure provisions. In February 2021, Pakistan concluded a second 10-year agreement (2022-2031) with QatarEnergy, securing additional volumes at a lower........

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