ILNG The MD of Terminal Limited has told the Standing Committee on Petroleum that the price of Spart Cargo has fallen by 50% but we have no money.
A meeting of the Senate Standing Committee on Petroleum was held under the chairmanship of Senator Abdul Qadir, in which the matter of collecting more than 445 billion rupees in the form of Gas Infrastructure Development Cess was considered.
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Secretary Petroleum told the committee that a committee has been formed under the chairmanship of the Finance Minister, and one meeting has been held.
Secretary Petroleum further said that Petroleum Division is of the opinion that all gas should be used to generate electricity, if natural gas is given to power plants, 70% cheaper electricity will be generated, this is the best way in the world.
He further said that our talk is not being heard. Here we are supplying gas to domestic consumers.
A $3 billion deal is likely in the oil and LNG sector
The Standing Committee sought details from the Ministry of Petroleum to take forward the proposal
LNG price halved but no money
During the meeting, MDLNG Limited said that the price of LNG in the world has decreased, the price of Spart Cargo has fallen by fifty percent, currently the price of Spart LNG is $14 per mmbt. You are
MDLNG Limited said that our financial situation is not able to buy spar cargo, we are meeting our demand only through long term contracts, at present there is an issue of LCs, if they give tenders to buy LNG, there is no one. He will come, even before four times, no one came.
MDLNG further told the committee that we can tender for three months for the Spart LNG cargo, we will need two LNG cargoes in January 2024.