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Pakistan anti-graft agency orders inquiry into ex-PMs over LNG terminal

ISLAMABAD,  (Reuters) - Pakistan's anti-corruption agency has approved an inquiry into former prime minister Shahid Khaqan Abbasi and his predecessor Nawaz Sharif over a liquefied natural gas (LNG) terminal project, the agency said.

The National Accountability Bureau (NAB) ordered the inquiry against Abbasi, Sharif and "others for granting a 15-year contract of LNG terminal to a company of their liking in violation of rules and by misuse of their powers, which caused national exchequer a loss of billions of rupees".

NAB did not identify which one of the two terminal projects in Pakistan it was referring to.

Abbasi was the mastermind behind Pakistan's push to embrace LNG after Sharif's Pakistan Muslim League-Nawaz (PML-N) party swept to power in a 2013 election. Pakistan is now seen as one of the world's fastest growing LNG markets. (Reporting by Asif Shahzad Writing by Drazen Jorgic)


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FEATURED COLUMNS

Editorial comment
-Adrienne Blume
According to GIIGNL’s 2018 Annual Report, global LNG trade expanded by 3.5 Bft3d in 2018, to 38.2 Bft3d—a record 10% increase.
Power, LNG projects drive pipeline construction in Africa
-Shem Oirere
Increasing public investment in gas-fired power plants in Africa, the continuing recovery in global oil prices and persistent insecurity in key producer markets, such as Nigeria, are likely to impact gas transmission pipeline projects on the continent, even as more international companies express interest in the region’s stranded gas resources.


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