PTI government did not make long-term agreements when LNG was available at cheaper prices, says state minister
State Minister for Petroleum Musadik Malik has warned of power load-shedding in July and gas shortage in the coming winters in the country.
Speaking on Geo News programme Aaj Shahzeb Khanzada Kay Saath, PML-N leader Musadik Malik blamed the previous government for not buying liquefied natural gas (LNG) at cheaper prices.
“Two years ago, LNG was available in the market at a cheaper price of $4, but the previous government wasted the opportunity and did not make a long-term agreement and now it’s not even available at $40,” he said.
Musadik Malik went on to say that the whole world is facing a gas shortage due to the Ukraine-Russia war as European countries have bought even a single molecule of gas.
The state minister said that the government will increase the production of electricity by using furnace oil and coal to overcome the crisis, adding that “better flow of water in dams after July 15, will also help in producing electricity and decrease the duration of load-shedding."
Musadik Malik further stated that two private sectors wanted to install two big LNG terminals during the previous government’s era, however, they were not allowed to do so.
“Now we are trying to get those investors back in the country to install LNG terminals,” he added.