Chinese offer to finance whole $2b LNG project

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ISLAMABAD: It appears that the Rs184 billion the government had collected to finance gas infrastructure projects will never be used for their intended purpose, as Chinese have agreed to finance the whole LNG Gwadar terminal and pipeline project.

Originally, the Chinese side was to provide 85% of the financing for the $2 billion project while the remaining 15% ($300 million) was to come from Pakistan’s side. For that purpose, Gas Infrastructure Development Cess (GIDC) was to gather the needed funds for the project.