Making the most: Pakistan likely purchase LNG shipments on international price drop

January 19, 2023 (MLN): Finally, the government is able to fulfill local gas demand in winter as the price of natural gas in the international market joined a downward trend. Thus, the country is considering the purchase of Liquefied Natural Gas (LNG) shipments again.

This additional LNG purchase will be a fresh breeze for Pakistani residents after witnessing a severe spell of gas shortage.

Since the winter season has begun in many regions, the price of gas started falling off and within this ongoing month, the price of LNG fell by 21.76% to $23.09 per cubic meter. 

On the same day last year, the LNG was available at $21.14 per cubic meter. 

According to media reports, discussions between Pakistan and Russian officials have started in Islamabad for crude oil and LNG deal.

To recall, the authorities had to discontinue LNG spot purchases amid higher prices quoting in the international market.

Meanwhile, on October 03, 2022, Pakistan received zero bids for its long-term tender to purchase LNG for a period of 4-6 years from 2023 onwards.

Lately, the Petroleum Division has planned the 16-hour load shedding for domestic consumers amid the energy crisis.

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