Canada Global(Web News)The gas crisis in the country is likely to be severe in January. Officials say that the non-availability of cheap LNG cargo from Azerbaijan’s SOCAR is expected.
According to the details, according to the senior officials of the Ministry of Energy, there is a strong possibility of non-availability of cheap LNG cargo from Azerbaijan’s state-owned company SOCAR (SOCAR) in January 2024.
The country was projected to experience a shortfall of 360 million cubic feet per day (mmcfd) of gas in December 2023, rising to 470 mmcfd in January 2024, before non-delivery of incoming LNG cargoes. Although the availability of gas for the domestic sector is limited to only 8 hours during cooking hours.
The expected non-availability of cargo will further exacerbate the gas crisis in January, forcing the government to reduce gas availability for the domestic sector from 8 hours to just 6 hours. Specific feedback from Saker suggested it would not be able to offer cheap LNG cargoes for January, officials said.
During the regime of former Prime Minister Shehbaz Sharif, GTG signed an agreement with Azeri firm Sakar under which it is obliged to supply one LNG cargo per month.
Pakistan and Azerbaijan signed an agreement on July 25, 2023 for one year, which can be extended for another year.
Under the agreement, Soccer Trading Company UK will make offers for LNG cargoes 45 days prior to the start of the relevant delivery window (delivery period) and each offer for the cargo will have a fixed maturity period during which the PLL offer will be accepted. .
Soccer withdraws LNG cargo offer for January
The Azeri firm is obliged to make an offer 45 days before cargo delivery, so there is still time and Soccer can come up with an offer for the month of January 2024.
Pakistan LNG Limited (PLL) is also planning to market its tenders for spot cargoes for January but PLL has sought two exemptions from PPRA rules