Pakistan endured a bone-chilling winter, grappling with soaring demand that surpassed the available gas supply, leading to rolling blackouts during the scorching summer. As the nation braces for an even colder season ahead, energy uncertainty looms large, casting a chilling shadow.
The financially strained country, which began importing liquefied natural gas (LNG) only 6-7 years ago, now finds itself trapped in a nightmarish reliance on this super-chilled fuel.
The widening gap between demand and supply guarantees inevitable power outages during the winter, adversely impacting exports, industries, and the overall spirit of the nation.
While Pakistan secures over half of its LNG through long-term contracts, providing a degree of stability amidst the volatile spot market, it recently forged a framework with Azerbaijan’s state-owned LNG producer for below-market-price shipments, although the commencement date remains undisclosed.
