ISLAMABAD: Pakistan will buy 3 million tonnes of liquified natural gas (LNG) annually from Qatar for the next 10 years, in a deal which is expected to be 31 per cent cheaper than the existing agreement.
The agreement was signed between representatives of the two countries here on Friday, in the presence of Prime Minister Imran Khan, according to Special Assistant on Petroleum Nadeem Babar.
"Under the agreement, Qatar will provide 3 million tonnes of LNG to Pakistan (annually) for ten years," Babar told reporters.
He said LNG purchased under the new agreement would be 31 per cent cheaper than the previous agreement signed between the two countries during the government of Prime Minister Nawaz Sharif.
"We are hoping to save hundreds of millions of dollars every year over the next ten years," he said, adding that the agreement marked a deepening of ties between the two nations.
The Special Assistant said Pakistan will further engage with Qatar in petrochemical supplies.
On the occasion, Qatari Energy Minister Saad Sherida al-Kaabi said the LNG agreement was the start of enhanced economic cooperation between the two countries.