Pakistan considers gas import deal with countries including Russia

Pakistan considers gas import deal with countries including Russia

Pakistan said it is considering to sign a liquefied natural gas (LNG) purchase agreement with various countries including Russia as it seeks to secure supply and ease a crippling shortage.

The government “will go for the most favourable deal,” the Ministry of Energy said in a statement to Bloomberg News. Pakistan is mulling a government-to-government contract to import the power-plant and industrial fuel, according to the statement.

Only a handful of countries are willing to sign new LNG contracts with Russia, as most importers shun Moscow due to President Vladimir Putin’s invasion of Ukraine. India and China are buying additional spot shipments of Russian gas, with some at a hefty discount to prevailing rates.