KARACHI: Pakistan has decided to procure 18 imported liquefied natural gas (LNG) cargoes to meet gas demand during the winter season.
LNG imports for winterThe LNG cargoes will be arranged for the period from November to February, with preference given to cheaper supplies from Qatar, according to sources.
Sources said spot cargoes would be purchased if LNG supplies from Qatar did not begin in time to meet the country’s winter requirements.
Prime Minister Shehbaz Sharif has also been briefed on the gas demand and supply situation for the winter season, sources said.
According to the briefing, domestic gas availability is expected to remain around 1.4 billion cubic feet per day during winter. However, Punjab alone could require up to one billion cubic feet per day during the season.
The expected shortfall could leave locally produced gas insufficient even to meet domestic household requirements during the winter months.
The planned LNG imports are aimed at helping meet seasonal demand, while the preference for supplies from Qatar reflects the government’s focus on securing gas at lower prices. If those supplies are delayed, spot purchases may be required to address the shortfall, sources said.
Earlier, Liquefied Natural Gas (LNG) prices were reduced by up to 21 percent.
The Oil and Gas Regulatory Authority (OGRA) issued an official notification regarding the price decrease.
Overall, LNG prices dropped by as much as $3.91 per MMBTU.
For the Sui Northern system, the LNG price decreased by $3.83 per MMBTU, fixing the new rate at $15.19 per MMBTU.
Meanwhile, the price for the Sui Southern system was slashed by $3.91 per MMBTU, bringing the new rate to $14.22 per MMBTU.
