Overview
- Petroleum Minister Ali Pervaiz Malik said reduced use of LNG for power generation created a surplus that will be sold internationally starting January 1.
- Officials cite around Rs1,000 billion in losses since 2018–19 from diverting costly imported LNG to households, with gas-sector circular debt reported at roughly Rs2.6 trillion.
- Pakistan has moved to cancel 21 long-term cargoes from Eni, while talks with Qatar include deferring or reselling contracted volumes under existing clauses.
- The Economic Coordination Committee approved diverting 24 cargoes in 2026 to be sold by Qatar in global markets, with any price differential recovered from local LNG consumers through an Ogra mechanism.
- Alongside the export plan, the government flagged new investment activity, with Turkish Petroleum set to resume exploration, SOCAR preparing a local office and pipeline investment, and $3.5 billion in private fundraising completed for the Reko Diq project ahead of a signing within two months.