ISLAMABAD: Prime Minister Shahid Khaqan Abbasi apprised the Senate that the Liquefied Natural Gas (LNG) contract between Pakistan and Qatar was the world’s lowest cost that had had been signed ‘efficiently’ and within ‘least time-frame’ as an inevitable measure to cope with swelling energy crisis.

Briefing the Upper House on the details of the LNG contract, the prime minister said all of the relevant information regarding the contract was part of the Senate’s record and available on the website of the Pakistan State Oil (PSO).

However, he assured the House to apprise the members on the blocked contents of the agreement on the said website provided the members keep it secret.

On Chairman Senate’s assurance, the prime minister agreed to provide the hidden contents of the contract to the House.

He told the Senate that the whole of the process had been signed under his supervision for what he was also responsible.

The prime minister told the House that it was the first ever contract in which the clause of ‘re-negotiate’ had been inserted and that it took around 14 months to negotiate the agreement.

He said the government had floated a tender for five years and signed the 15-year contract after getting the price quotations and as per rules, the price slope would increase in accordance with the period of contract.

He told the House that no country was getting LNG on the rate, Pakistan had been availing.

He said in 2013, Pakistan had been suffering immense energy shortage forcing the closure of industry, power plants, CNG stations as well as the domestic supply. However, the incumbent government managed the supply of LNG-based gas within 20 months.