Pakistan is likely to face an LNG shortage after April 14, which could prevent the power sector from meeting its gas requirements, the Petroleum Secretary informed a Senate committee meeting.<\/p>\n
The session of the Senate Standing Committee on Petroleum, chaired by Senator Manzoor Ahmed reviewed petroleum product prices and availability amid global supply disruptions.<\/p>\n
The Secretary briefed members that tensions in the Middle East have affected fuel shipments, noting that Pakistan relies on the region for approximately 70% of its petroleum imports. Normally, shipments from Arab countries reach Pakistan within 4\u20135 days, but current disruptions are delaying arrivals.<\/p>\n
According to the Secretary, high-speed diesel prices have surged from $88 to $187 per barrel, while petrol has increased from $74 to $130 per barrel. Senator Ahmed noted that the price hike mainly benefits oil marketing companies, but the Secretary clarified that the increase was aimed at curbing hoarding and ensuring uninterrupted imports and nationwide availability, not company profits.<\/p>\n
Officials also reported that, as of now, Pakistan holds crude oil reserves for 11 days, diesel for 21 days, petrol for 27 days, LPG for 9 days, and JP-1 fuel for 14 days.<\/p>\n
The Secretary confirmed that the government is also preparing a relief package for motorcyclists and rickshaw drivers affected by rising fuel costs.<\/p>\n
With LNG shortages looming, the power sector may need to source gas from alternative suppliers. Officials said LNG could be procured from Azerbaijan at $24 per unit compared to $9 from Qatar, highlighting the cost challenges of spot purchases.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan is likely to face an LNG shortage after April 14, which could prevent the power sector from meeting its gas requirements, the Petroleum Secretary informed a Senate committee meeting. The session of the Senate Standing Committee on Petroleum, chaired by Senator Manzoor Ahmed reviewed petroleum product prices and availability amid global supply disruptions. The […]<\/p>\n","protected":false},"author":5,"featured_media":72867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[131,30],"tags":[],"ppma_author":[213],"class_list":["post-72866","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-latest"],"yoast_head":"\n