Home / Brokerage / LNG import agreement signed of worth USD 166 mn – Alfalah Securities Limited

LNG import agreement signed of worth USD 166 mn – Alfalah Securities Limited

Karachi: A Liquefied Natural Gas (LNG) terminal project has been signed for the import of 400-500 mmcf on account of overcoming the prevailing energy crisis and to reduce the consumption of costly furnace oil.

According to Alfalah Securities, the agreement was signed between an American based firm, Overseas Private Investment Corporation (OPIC) and Pakistan Gasport Limited (PGP) to develop a project of worth USD 166mn within one year starting from January 2012. The project would provide electricity to the consumers at a cheaper rate as the electricity produced through natural gas is much cheaper than furnace oil and would also give 50% savings in operational activities to the power plants.

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