Pakistan is postponing a decision on importing liquefied natural gas worth an estimated $2 billion. The Petroleum Division has urged the government to initiate these imports to meet rising energy needs.
The original plan sought to begin importing the first 12 cargoes between 7 October and 10 October 2026. Officials considered reducing the number of shipments from 22 to 15, while the cost for 22 shipments from November through February is now estimated at nearly $2 billion.
The government had initially estimated the cost of the imports at $1.5 billion. Qatar has extended its force majeure status until November.
The proposed plan included 4 cargoes from Azerbaijan through Pakistan LNG Limited and 4 cargoes arranged by Pakistan State Oil with other market participants. Additionally, the plan included 3 cargoes from a US government nominated supplier.
Residential consumers would receive priority with gas supplied from 5 a.m. to 10 p.m. Supplies to compressed natural gas stations could be curtailed in December 2026 and January 2027.
The Ministry of National Food Security and Research warned that the closure of Fauji Fertilizer Bin Qasim, Fatima Fertilizer and Agritech could create a urea shortfall of 109,000 metric tonnes per month. Pakistan's official foreign exchange reserves stood at slightly more than $21 billion, while the country borrowed $3 billion through Eurobonds.
