An increase in international gas prices will force Pakistan to pay a higher dollar or leave the area it wants to spend the winter on.
Although Pakistan began importing liquefied natural gas six years ago, its dependence on colder fuels is beginning to change.
Increasing global gas prices due to European shortages: Asian LNG That has forced Pakistan to pay too much for shipping to meet long-term contracts or to give up altogether.
The shortage means the country will suffer “certainly” during the winter, said Ikbal Z. Ahmed in an interview. “Above all, it hits exports, industry and general morale. Electricity is not a luxury. ”
Pakistan’s Ministry of Energy did not respond to several requests for comment.
The energy crisis from the United Kingdom to China is also likely to drive emerging markets struggling to keep up with rising oil prices. In the Northern Hemisphere, economies that cannot afford to buy fuel can easily stagnate as heating demand rises and even places prices rise.
Over the past few decades, developing countries, including Pakistan, have developed LNG imports, assuming that oil will be as abundant and cheap as it has been for decades. Asian LNN
Pakistan acquires more than half of LNG’s long-term contracts that provide some protection from the volatile space market. Traders who also demanded that the deal be made public, said Qatar agreed to increase supply under the terms of the agreement.
But the country still needs shipments during the winter, and it is unclear if it can buy those. The high cost of space LNG has sparked political controversy, with opposition politicians demanding an investigation into state-owned purchases.
High costs can also be pushed by the government to encourage consumers to switch to electricity to save gas for industrial and heating needs. It also threatens to turn the country into a gaseous wasteland as it is a clean fuel.
LNG space prices are “crazy,” Ikbal said. If this trend continues, people will turn to other fuels for LNG.