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Pakistan LNG Demand to Triple in Five Years

LNG

Pakistan’s demand for LNG will almost triple in the next five years as the country’s domestic production of natural gas dwindles, Shehryar Omar, CEO of the Petroleum Institute of Pakistan, said.

  • The country will need 25 cargoes of LNG per month in five years, from currently nine cargoes per month, Omar said.
  • The country will start importing ten cargoes a month starting in January, he added.
  • Pakistan has struggled to secure enough LNG to cover its needs after prices surged to an all-time high last year. The nation’s industries and households have seen an increase in gas outages. Exporters are reluctant to agree to sell shipments of the power plant and heating fuel to Pakistan because of the emerging nation’s credit risk.
  • The country’s domestic gas output has dropped over the past decade and currently produces 3.8bcf/d compared with demand of 6bcf/d.
Energy BulletsCommodities
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