Pakistan delays LNG contract with Qatar by a year: Petroleum minister

The contract between Qatar and Pakistan for the supply of liquefied gas (LNG), announced by Petroleum Minister Musadik Malik on Wednesday, has been deferred an additional year. Qatar will now deliver LNG cargoes to Pakistan in 2026, instead of 2025.

The power minister of Pakistan said in November that the annual power consumption in Pakistan has fallen 8-10% over the last three quarters. This is mainly due to the higher tariffs which have reduced household consumption.

He said that the South Asian nation had deferred five LNG shipments from Qatar, and was also in negotiations to defer five shipments with other markets.

In November, the government announced a reduction in

Electricity tariffs

The aim is to reduce the use of gas and increase consumption during winter.

In Pakistan, many power utilities have been forced to reduce or even stop operations during winter due to a 60% drop in demand from summer peak levels.

Malik stated in an interview in June that Pakistan will not buy LNG cargoes until the start of the winter in November, due to the oversupply and the high price.

(source: Reuters)