Observer Report Islamabad
The government is taking all possible measures to prevent the looming gas crisis in Pakistan, Energy Minister Hammad Azhar said Monday.
The government has arranged 11 LNG cargoes for the month of November, Azhar said while speaking news channel.
However, two of the LNG trading companies have unofficially informed the authorities about the non-provision of two LNG cargoes for this month, he added.
The minister maintained that talks were underway with the companies about the matter. Responding to a question, Azhar said that the country will have 9 LNG cargoes if the companies excused themselves from providing the cargoes.
Talking about the looming LNG crisis, the minister said that the entire world was facing the shortage but the government is making all the efforts to overcome the crisis.
In a major setback for the country, two LNG trading companies have backed out of an agreement made with Pakistan LNG Limited (PLL) to provide two cargoes for November for mammoth monetary gains of up to 200% profit in the international spot market.
The two LNG trading companies had made an agreement with PLL, with Italy-based ENI promising to deliver the LNG cargo on November 26-27 and Singapore-based GUNVOR promising delivery on November 19-20.
The move by these LNG trading companies has left top authorities in the energy ministry in the lurch, with some saying that the situation may expose the PTI government to a severe political backlash from the masses in November.