Pakistan Defaults on LNG Payments: Press
State-run Pakistan LNG has defaulted with the United Bank on LNG payments, according to a report published in Karachi newspaper
The News on February 11.
According to the report, the default occurred owing to non-payment of dues of Pakistani rupees 61.2bn ($380mn) by state-run gas distributor Sui Northern Gas Pipelines. The issue came to light when Pakistan LNG wrote a letter on February 4 to the special secretary of petroleum division Nadeem Irshad Kiyani. The letter also says that if the default is not cleared, United Bank will not establish letter of credits for upcoming LNG cargoes,