- An LNG cargo delivery to Pakistan has been delayed, according to Italian energy giant Eni.
- Pakistan has had difficulty obtaining spot LNG shipments.
- Long-term agreements for LNG imports to Pakistan are insufficient.
A liquefied natural gas cargo delivery to Pakistan LNG Limited that was planned for February has been delayed, according to Eni, which announced this on Wednesday.
From 2017 through 2032, the Italian giant will deliver one cargo of LNG to Pakistan per month under a 15-year agreement.
“February LNG delivery disruption is beyond the reasonable control of ENI and due to an event of force majeure. ENI does not benefit in any way from the situation,” said the company.
“All the previous disruptions in LNG delivery suffered by ENI have been caused by the LNG supplier who didn’t fulfill the agreed obligations. Also in these cases, ENI did not take advantage or benefit in any way from these defaults and applied all contractual provisions to manage such disruptions.”
Due to rising gas prices around the world—which reached record highs last year as a result of Russia’s invasion of Ukraine—Pakistan has had difficulty obtaining spot LNG shipments.
Long-term agreements for LNG imports to Pakistan are insufficient to meet the nation’s escalating fuel needs.
An inquiry for comment was not promptly answered by Pakistan LNG, a government-owned company that buys LNG on the market outside.
According to Refinitiv statistics, Pakistan imported 9 billion cubic meters (bcm) of LNG last year, a decrease of over 20% from 11.2 bcm in 2021.
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