According to The Express Tribune, the government is sitting on a decision to import roughly $2 billion worth of liquefied natural gas (LNG) to meet winter demand, even though the Petroleum Division advised starting the process in the first week of October to avoid supply disruptions and public unrest.
A 22-cargo summary awaits the CCOE
The report says the Petroleum Division sent a gas load management summary to the Cabinet Committee on Energy (CCOE) last month seeking authorisation to import 22 LNG cargoes, some from the United States and Azerbaijan. It sought approval to begin importing 12 of them between October 7 and 10, but the committee has not yet taken up the summary.
Prime Minister Shehbaz Sharif has chaired several meetings on the number of cargoes without a formal decision. Petroleum Minister Ali Pervaiz said the matter was pending with the CCOE.
Warning of cuts to industry and CNG
The Petroleum Division has cautioned that further delay could force the government to disconnect supplies to industry, power, fertiliser, CNG and cement so that households keep receiving rationed gas.
Qatar force majeure and FX pressure
The government had expected at least 11 cargoes from Qatar under a long-term deal, but Doha has extended force majeure until November amid regional uncertainty. A senior official said cost is a major reason for the delay: at an average $87 million per cargo, about $2 billion is needed for November to February, against an initial estimate of $1.5 billion.
Some officials favour importing only 15 cargoes, which could worsen peak-winter shortages. Gross official reserves stand at just over $21 billion even after $3 billion was raised through Eurobonds, and Pakistan received $5.4 billion in external loans in July-September.