Pakistan is considering signing a liquefied natural gas (LNG) purchase agreement with a number of countries, including Russia, in order to ensure supply and alleviate a debilitating shortfall.
According to sources, the Ministry of Energy stated in a statement that the government “will pursue the most advantageous contract.” According to the statement, Pakistan is considering a government-to-government contract to import the power plant and industrial fuel.
Pakistan is considering signing a liquefied natural gas (LNG) purchase agreement with a number of countries, including Russia, in order to ensure supply and alleviate a debilitating shortfall.
India and China are buying more Russian gas on the spot market, some at a significant discount to current prices.
Pakistan is currently experiencing blackouts due to a fuel shortage, following the failure of numerous other long-term suppliers to deliver shipments. To keep the lights on, the government resorted to buying LNG on the spot market, building up debt that threatens to exacerbate already-rising inflation.
Prime Minister Shehbaz Sharif wants to negotiate a new long-term LNG contract to help cut fuel costs after former Prime Minister Imran Khan was deposed last month.
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