As a supplier pulls out of the cargo market in February, Pakistan’s gas crisis will worsen.

World News

Islamabad: A senior official of the Energy Ministry confirmed that the LNG cargo that was expected to arrive on February

Top officials in the Petroleum Division are concerned about the development because Pakistan already has a gas crisis. Even while cooking, gas has become scarce in several of the city’s major neighbourhoods.

According to the government’s gas load management plan, home consumers would have access to gas for cooking throughout the winter for three hours from 6 am to 9 am, two hours from 12 pm to 2 pm, and three hours from 6 pm to 9 pm. The News International said that the reality on the ground, however, speaks differently.

6-7, 2023, has been cancelled by ENI, a Liquefied Natural Gas (LNG) trading company in Pakistan, which is expected to worsen the country’s gas crisis in February, according to The News International.

The impact of ENI pulling out will be felt in the form of lower supplies to the power sector, and the sector’s anticipated supply of 325 MMcfd for next month won’t be accessible, according to the appropriate authorities.

The problem will increase the reliance on electricity produced from furnace oil and result in more expensive electricity for end users. The Petroleum Division has previously asserted that ENI will not default beginning in January 2023, however this is untrue.

When contacted, an ENI spokeswoman verified the news, saying: “A Force Majeure situation outside of ENI’s reasonable control caused the February delivery delay (unforeseeable circumstances). ENI is not in any way benefited by the circumstance.”

The News International said that the senior official claimed ENI defaulted five times in 2022, failing to provide LNG shipments in the months of March, May, July, September, and November.

According to recent reports, Pakistan has been unable to obtain LNG at a “affordable” price.

Since it began importing LNG in 2015, Pakistan has only ever accepted bids up to USD 30.65 per mm Btu in November 2021. On June 16, the government-run Pakistan LNG Ltd (PLL) announced a tender for four LNG cargos, two of which would arrive in the final week of July and one each in the first and second.

For the delivery windows of July 2-3, July 8–9, and July 25–26, no bidder was submitted. In the first week of July, this was PLL’s “third” unsuccessful attempt to have an LNG cargo.

An LNG shipment from Qatar Energy, a state-owned petroleum business in Qatar, was offered at a price of USD 39.8 per million British Thermal Units (mmBtu), making Pakistan the “most expensive” buyer if it had accepted the offer.

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