Islamabad: Federal Minister for Petroleum Musadik Malik informed the National Assembly that the procurement of five LNG cargoes from Qatar has been postponed. Qatar also declined to supply an additional cargo in January, despite Pakistan’s request.
Assembly Discusses LNG and Gas Production
During a session in the National Assembly, a notice was presented to address the declining local gas production and the high cost of imported LNG. The notice was submitted by Syed Naveed Qamar of the Pakistan Peoples Party.
Retail Prices of Sugar Hit New Highs
Minister Malik clarified that the LNG being purchased is through long-term contracts. He added that currently, Pakistan has a surplus of LNG, but uniform pricing has not been established. As a result, LNG priced at $36 per MMBtu has no buyers.
Power Sector Buys Less LNG than Promised
Malik noted that it was initially claimed that the power sector would purchase 600 million cubic feet of LNG daily. However, only 250 million cubic feet is currently being purchased. The government is trying to defer one company’s additional cargo until next year.
Request for Additional January Cargo Declined by Qatar
The minister explained that Pakistan submits an annual LNG plan in October. Considering the higher demand in January, an additional cargo was requested from Qatar. However, Qatar refused to supply extra cargo for January.
Efforts to Ensure Supply for Public Convenience
Musadik Malik disclosed that talks are ongoing with another company to postpone the procurement of five cargoes. He stated that a tender has been issued for an additional cargo to meet the public’s needs during January.
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