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In a serious setback to Pakistan’s ongoing power disaster, the nation has failed to acquire Liquefied Pure Fuel (LNG) at an “inexpensive” value.The very best-ever bid that Pakistan accepted because it began LNG imports in 2015 was at USD 30.65 per mm Btu in November 2021. The state-run Pakistan LNG Ltd (PLL) floated a young on June 16 for 4 LNG cargos — one every within the first and second weeks, and two within the final week, of July.
No bidder got here up for July 2-3, July 8-9, and July 25-26 supply home windows. This was PLL’s ‘third’ failed try and have an LNG cargo within the first week of July.Qatar Vitality, a state-owned petroleum firm of Qatar, had supplied an LNG cargo at USD 39.8 per million British Thermal Unit (mmBtu), which might have been the “priciest” buy for Pakistan had it not rejected the provide.
Presently, Pakistan is heading in the direction of a extreme power disaster within the coming months with out the right LNG provide required to generate electrical energy, gas industries, and family consumption.The continuing Russia-Ukraine struggle, emergency gasoline purchases by European nations and the continuingdisruption within the international power provides due to the final two COVID-19 pandemic years have elevated LNG costs considerably, thus making it tough for a financially doomed nation like Pakistan to buy gasoline cargoes at inexpensive charges.
With a view to keep away from energy outages throughout the Eid-ul-Fitr vacation final month, the federal government paid almost USD 100 million to acquire a single LNG cargo from the ‘spot’ market–where commodities are bought for instant supply versus a long-term arrangement–a report for the nation.
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