Lucky Group, Qatar Energy consortium quits Port Qasim LNG terminal plan over 'policy changes'

Energas, a consortium involving Lucky Group and Qatar Energy, has abandoned its proposed LNG terminal at Port Qasim, Dawn reported, citing shifts in Pakistan’s energy policy and unresolved fiscal and policy issues. The Port Qasim Authority has set Nov 30, 2026 as the deadline for unconditional acceptance of the final letter of intent, warning that it could cancel the approval and retain the $2 million fee if Energas does not comply.

Energas has asked the prime minister to return the fee, arguing that national gas needs have changed and a 2025 government study found no requirement for new LNG terminals over the following five years. The authority says the deposit can be forfeited under the project rules and that securing approvals, pipeline access and financing falls to the developer. Dawn also reported that Qatar Energy had arranged LNG supply at about 10.2pc of Brent, a rate close to the one in Pakistan State Oil’s second-term contract.