Gas shortage leaves Pakistan anxious

ISLAMABAD: The gas crisis deepened in different parts of the country including Lahore and Karachi, the result of which citizens have faced hardships.

Moreover, residents of the village of Chandra have been protesting on lack of gas availability for over a month.

According to the sources, the winter gas load shedding could hit the industry and the power sector, as well as domestic consumers.

Moreover, the demand for Liquefied Petroleum Gas (LPG) has increased due to the release of the gas charge, so speculators are receiving exorbitant prices.

Sources said that two foreign suppliers had refused to share Liquefied Natural Gas (LNG) cargo under the agreement in November.

LNG would not be delivered in November due to the low price and incompetence of Pakistan LNG Limited (PLL) by the Ministry of Petroleum, sources said.

Sources said Guvnor and ENI agreed to deliver two shipments in the third and fourth week of November, according to sources.

According to sources, Guvnor was required to supply LNG to 11.62pc of Brent under a five-year contract.

Sources said that ENI has bound to supply LNG at 11.95 pc of Brent under a 15-year contract.

Energy Minister Hamad Azhar said talks are underway with two companies that refused to supply LNG.

LNG prices in the global market have crossed over US$35, according to sources.

Sources said that Pakistan could impose a fine of up to 30 per cent of the cargo value for violating the LNG deal. TF Report