Pakistan, Qatar sign 10-year LNG supply contract

ISLAMABAD: Pakistan and Qatar have signed another long-term Liquefied Natural Gas (LNG) supply contract for additional 200 million cubic feet a day (MMCFD) at around 31 per cent lower rate than the 2015 contract for 500MMCFD.

The 10-year agreement signed on Friday entailed the “lowest-ever publicly disclosed price under a long-term contract in the world” and was achieved through joint efforts of the political and military leaderships, said Special Assistant to the Prime Minister on Petroleum Nadeem Babar while speaking at a news conference after the signing ceremony.

The Pakistan Tehreek-i-Insaf government had at the outset of its term tried to renegotiate the long-term contracts with Qatar signed by the Pakistan Muslim League-Nawaz government in 2015-16 with similar assertions that it had secured the lowest long-term price and no major LNG purchasers — much larger than Pakistan — had until then got such a price.

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