Pakistan and Qatar signed a new ten-year liquefied natural gas agreement at a significantly lower rate than the previous deal.
The new agreement has been signed at around 31% lower rate than the 2015 contract.
The fresh long-term contract has been signed at a rate of 10.2% of Brent for import of 200 million cubic feet a day (mmcfd) LNG as opposed to the previous deal for 500mmcfd in 2015 at a rate 13.37% of Brent.
Pakistan will get 3 million tonnes of LNG per year from Qatar Petroleum under the deal from January 2022 starting with average of two ships per month, which would be increased to four vessels in next three years.
Pakistan currently has two operational LNG receiving terminals, Engro LNG and Pakistan GasPort.
