Eni, an Italian oil and gas company, has said it has stalled and disrupted its plan to supply liquefied natural gas to Pakistan, scheduled for February 2023, due to force majeure.
Yesterday, Thursday, Reuters quoted the company as saying: “The reason for the disruption of the LNG operation in February is beyond Eni’s reasonable control and is due to force majeure. Eni does not benefit in any way. Apart from the current situation arising from this, all The precedent in LNG supply that Eni faced was related to the failure of one of the LNG suppliers to comply with agreed obligations.”
It is noteworthy that under the contract, which is valid from 2017 to 2032, the company must supply LNG to Pakistan on a monthly basis.
According to the agency, Pakistan is facing problems purchasing spot shipments of liquefied natural gas amid high global gas prices, and what is supplied under long-term contracts is not enough to meet the growing demand for gas in Pakistan.
Pakistan imported 9 bcm of LNG in 2022, nearly 20% less than its 2021 import of 11.2 bcm, according to the agency.