Gas Imports From Qatar Are Secured, Ensuring Ample Supply Throughout December and January, Asserts Minister for Petroleum Ali Pervaiz Malik; Cites Global Uncertainties Around Strait of Hormuz
LAHORE: Federal Minister for Petroleum Ali Pervaiz Malik has given the nation assurance that LNG imports from Qatar are secured, ensuring that the nation has ample supply of gas this winter season from December till January.
In a convocation ceremony held at a private university in Lahore, Ali Pervaiz Malik admitted that current geopolitical tensions around the Strait of Hormuz have put pressure on oil and gas prices.
Highlight of Federal Minister Ali Pervaiz Malik’s Address in Lahore are as follows:
The Minister for Petroleum, meanwhile, announced that gas deliveries from Qatar have been coming regularly as planned, resulting in strong supply for domestic and industrial consumers to the end of December and January.
Global Market Volatility: Talking about the dynamics of the international supply chain, Malik said that volatility in the Strait of Hormuz has caused an effect on the prices of fuel in the international market, but added that the country has successfully faced these shocks in the international market in the last six months.
Domestic Policy: Underlining the transparent determining framework of petroleum prices, he said that the government remains committed to providing targeted petroleum subsidy to the vulnerable and low-income segments of society.