Islamabad: The government has negotiated to buy another 400 million cubic feet of Liquefied Natural Gas (LNG) from Qatar at cheaper rates, a news source reported. This deal will allow the national treasury to save around USD 2.5 billion over the next 10 years, as compared to a previous agreement.
The federal government will approve the offer after reviewing the offer from other countries.
Under this agreement, the government will buy LNG under the old 10-year agreement at the rate of 11.5% the price of crude oil, while under the new 15-year agreement, natural gas will be bought at the rate of 11.25% the price of the crude oil.
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