24th November 2021
EP Report

The escalating price of liquefied natural gas (LNG) has put the Energy and Mineral Resources Division into a "trouble" over its demand and supply management following the diesel and kerosene price hike.

 

According to official sources, top policymakers are now weighing different options, including further upward adjustment in gas price, enhancing LNG import from long-term contracts and increasing local gas production. 

 

"But There's no easier option for the government to find a suitable solution to manage the situation, particularly in 2022," said a top official at the Energy and Mineral Resources Division. 

 

Official sources said the government is planning to send a team, headed by the senior secretary of the Energy and Mineral Resources Division, to Qatar and Oman to manage the increasing import of LNG from long-term contracts. 

 

The government has long-term contracts with the two nations to annually import 2.5 million metric tons of LNG from Qatar and 1.5 million MT from Oman. It also imports another 1.5 million MT from the international spot market to meet the growing demand for natural gas.


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