(MENAFN) The Oil and Gas Regulatory Authority (OGRA) cancelled permits to import and sell liquefied natural gas (LNG) for three companies.
The cancellation came as a result of the companies' failure to import and sell 1,400 millions of cubic feet per day (mmcfd) of LNG, Kuwait News Agency (KUNA) reported.
A letter sent by OGRA to the Pakistani Ministry of Petroleum and Natural Resources stated: "Arguments of the companies for their failure to achieve the milestones and conditions are not tenable and their conditions precedent for progress of the project, including financial close, are hard to be met within next one or two years."
The three companies were Pakistan Gasport Limited, Global Infrastructure Limited and Elengy Terminal Pakistan Limited.
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