Energas abandons LNG terminal project at Port Qasim, seeks $2m refund: report

Energas has dropped its plan for an LNG terminal at Port Qasim and asked Prime Minister Shehbaz Sharif to return its $2 million initial concession payment, according to Dawn, as reported by Profit by Pakistan Today. The Port Qasim Authority says the payment could be forfeited unless the consortium accepts its final letter of intent without conditions by November 30, 2026.

Energas Chairman Muhammad Ali Tabba told the prime minister that shifts in energy policy and unresolved government matters had made the project commercially unviable, preventing a final investment decision by QatarEnergy and its Pakistani partners. The consortium also cited a March 2025 government study that found no need for additional LNG terminals over the next five years, and the withdrawal of a tax exemption for new terminals in June 2021. PQA maintains that approvals, financing and technical arrangements were the developer’s responsibility under the project guidelines.