The Federal Minister for Petroleum and Natural Resources Ghulam Sarwar Khan on Wednesday said that the National Accountability Bureau (NAB) is investigating LNG agreement reached between Pakistan State Oil (PSO) and Qatargas in February 2016, a local media outlet reported on Friday.
The agreement would be renegotiated if the anti-graft body found any irregularities, he said.
At a Senate Committee hearing chairman by Senator Mohsin Aziz, PSO was asked why it had signed a 15-year agreement rather than a five-year agreement as recommended by a consultant.
He was informed that the government at the time had wanted to secure gas supplies to manage energy shortfalls.
Signed in 2016, the agreement is set to last till 2031. A official representing PSO said that “though the deal with Qatar can only be re-negotiated after 10 years, if Pakistan formally contacts with Qatar, it may be possible to review the deal”.