Government plans 25-26 LNG cargoes for winter gas supply

The government has decided on a series of measures to manage gas supplies during the winter season, including plans to procure 25 to 26 LNG cargoes between November and February, sources said.

According to the sources, the cargoes are expected to be sourced through long-term agreements with Qatar, friendly countries and the spot market.

The government has also decided to amend the regulatory framework governing LNG terminals, the sources said.

Under the proposed changes, private power producers may be allowed to import LNG independently.

The government is also considering granting third-party access to utilise spare capacity at LNG terminals.

Sources said the government intends to cap spot LNG prices at $26 to $27 per MMBtu.

The Petroleum Division is preparing a summary on the proposed measures for submission to the Cabinet Committee on Energy.

The prime minister has been given a preliminary briefing on the gas load management plan, while final approval will be sought from the Cabinet, the sources said.

Pakistan State Oil and Pakistan LNG Limited imported 36 LNG cargoes during the previous winter, according to the sources.