New LNG contract with Qatar is 31% cheaper to previous govt's: Nadeem Babar.

ISLAMABAD -- Special Assistant to PM on Petroleum Nadeem Babar has said the 10 year LNG contract signed with Qatar is 31 percent cheaper compared to the previous agreements.

Addressing a news conference in Islamabad on Friday, Nadeem Babar said it is the lowest publicly disclosed LNG contract in terms of price in the world. The Special Assistant said this deal will help the country save three hundred and sixteen million rupees annually. It will make a difference of three billion dollars for ten years.

He said the previous agreement with Qatar was for fifteen years under which the price was fixed for ten years. He said the new agreement however envisages price reopening after four years.

The Special Assistant said under the previous agreement, the letter...