Pakistan increases LNG prices by up to 28% for May

ISLAMABAD: The government of Pakistan has increased LNG prices by up to 28 percent for May, according to an official notification issued on Thursday.

Under the new rates, LNG prices for the Sui Northern system have been set at $16.98 per MMBtu, while consumers under the Sui Southern system will now pay $16.04 per MMBtu.

Officials said prices for the Sui Southern system increased by $3.51 per MMBtu, while rates for the Sui Northern system went up by $3.43 per MMBtu.

The government said the increase was made due to changes in international market prices and higher supply costs of imported liquefied natural gas (LNG).

The revised LNG prices will remain effective during the current billing cycle and will affect consumers connected to both gas distribution systems across the country.

Earlier this month, Pakistan received two LNG cargoes from Qatar within one week at Port Qasim.

One LNG carrier, MV Al Kharaitiyat, arrived carrying more than 95,000 tons of Qatari LNG cargo. Another tanker, Mihzem, also reached Port Qasim with 56,573 metric tons of LNG.

Sources said the LNG was supplied by Qatar to Pakistan under a government-to-government agreement. Two more LNG tankers from Qatar are also expected to arrive in the coming days.

Meanwhile, Pakistan has also been holding talks with Iran to allow LNG tankers to safely pass through the Strait as the country works to manage its gas shortage.

Qatar is currently the world’s second-largest exporter of LNG, with most of its shipments going to Asian countries.