Pakistan’s new LNG deal with Qatar will save Islamabad a total of about $3bn over the next 10 years, Associated Press reported on March 1 citing a statement by a senior government official. 

The agreement, signed last week, will save Pakistan $317mn/year thanks to the reduced price of the gas compared to the previous agreement between the two countries, Nadeem Babar, prime minister Imran Khan’s adviser on petroleum, said. 

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Under the new agreement, state-run Qatar Petroleum will supply up to 3mn metric tons/year of LNG to Pakistan State Oil for 10 years starting 2022 at a reduced price of about 31% compared with the previous agreement signed in 2016. 

Pakistan began importing LNG in 2015, after the launch of the 4.5mn mt/yr Engro Elengy terminal. The 5mn mt/yr Pakistan GasPort terminal was brought on stream two years later. Both facilities are in Port Qasim.