ISLAMABAD:
Pakistan on Friday signed an agreement with Qatar for the import of Liquefied Natural Gas (LNG) in order to reduce the cost of power generation.
Talking to media representatives in Islamabad, Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said that the first shipment of LNG will reach Pakistan by the end of March.
He claimed the power generation cost through LNG will reduce by 40 per cent as compared to diesel.
The Minister also said that the LNG import price will be submitted before the Economic Coordination Committee (ECC) for approval.
“Pakistan heavily relies on its import of furnace oil and diesel to fuel power stations and both fuels are relatively expensive as compared to LNG, which is cheaper and a more efficient alternative. LNG is also cleaner and considered environment-friendly,” said Abbasi.
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