Pakistan prepares strategy to cope with gas crisis

Gas crisis, LNG, PLL

ISLAMABAD: The caretaker government has prepared a strategy to cope with the gas crisis during winter season this year, ARY News reported on Wednesday.

The caretaker government issued tender for Liquefied Natural Gas (LNG) for December 2023. The tender was issued by Pakistan LNG Limited (PLL) today.

Sources within the PLL told ARY News that Pakistan sought bid from global firms for two LNG cargoes in December. Pakistan sought the delivery of LNG cargoes from December 7 to 8 and from December 13 to 14.

Related: OGRA notifies increase in LNG prices

The bids will be accepted by October 4 and they will be opened on the same day.

In July, Pakistan had inked a framework agreement with Azerbaijan for Liquified Natural Gas (LNG) procurement on flexible terms.

The agreement had signed between Pakistan LNG Limited and Azeri Company SOCAR in Lahore and was witnessed by Prime Minister Shehbaz Sharif.

Speaking on the occasion, the PM said the tenure of this agreement is one year which is extendable to one more year.

He said under the agreement, Azerbaijan will offer one Cargo of LNG each month and it will be up to Pakistan to either accept the cargo or not. He said there will be no financial penalty if Pakistan does not accept the cargo.

Related: Pakistan receives first batch of 100,000 metric tons LPG from Russia

The premier termed the agreement between Pakistan and Azerbaijan as a major milestone in the fraternal relations between the two states. He especially thanked the president of Azerbaijan for playing a pivotal role in this agreement.

In his remarks on the occasion, the ambassador of Azerbaijan said that both countries are deepening their cooperation in diverse fields including energy, defence, IT and transport.

He said the two sides are also negotiating a preferential trade agreement, expressing confidence that they will be successful in this regard as well.



from Latest Pakistan News and Breaking News from All over Pakistan https://ift.tt/BvFVlmh

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