The Special Investment Facilitation Council (SIFC) officially approved the revenue-sharing agreement between Sui Southern Gas Company Limited (SSGC) and Jamshoro Joint Venture Limited (JJVL), paving the way for the operationalisation of the JJVL LPG-NGL extraction plant by July 31, The News reported.
The approved agreement outlines a 66:34 revenue-sharing ratio between SSGC and JJVL, with SSGC entitled to a 25% share of the LPG based on the Ogra-notified producer price. This arrangement is expected to generate Rs2 billion annually for SSGC.
A senior official from the Petroleum Division, present at the SIFC meeting, confirmed that the SSGC management, after obtaining approval from its board, submitted the agreement to the SIFC for endorsement.
Although the agreement was initialed by both SSGC and JJVL, it will be formally signed after the SIFC minutes are issued.
The official added that the SSGC management sought the SIFC’s endorsement to ensure transparency and avoid potential investigations by the National Accountability Bureau (NAB) in the future.
