Qatargas undercuts Shell to secure $1bn Pakistan LNG contract

QatargasRoyal Dutch Shell Pakistan LNG contract: Royal Dutch Shell looks set to lose its contract to supply Pakistan with LNG worth over $1bn after Qatargas offered to undercut it on price. Both the Gunvor commodities trading group Shell were provisionally awarded contracts to deliver 60 LNG vessels each to Pakistan over the next five years at a price of 13.37% and 13.8% of the price of Brent crude respectively; but during subsequent negotiations, Qatargas agreed to match the Guvnor quote, prompting the government to consider scrapping the contract with Shell and award it to the Qatari company. It appears that the Gunvor contract will remain in tact.

Source: tribune