LNG agreement signed with Qatar: Khaqan

ISLAMABAD (Web Desk) - Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi says LNG import agreement has been signed with Qatar.

Talking to the media persons on Friday, he said the LNG import price will be submitted before the Economic Coordination Committee for approval. He said the first shipment of LNG would reach Pakistan by the end of this month.

The Minister said the electricity generation through LNG will reduce cost of production by 40 percent as compared to diesel. He said LNG will initially be provided to four power plants in Punjab and KAPCO for power generation.

Earlier, the Ministry of Petroleum and Natural Resources and Kuwaiti company signed an MOU for oil exploration in the country. Under the agreement, the company will invest 9.5 million dollars in Pakistan.

The MoU will help enhance oil production in the country which currently stands at 100,000 barrel.