LNG prices hit the lowest level in ten years in the global market. The possibility of further reduction in Pakistan’s import bill has come to light.
LNG prices in global markets hit lowest level in 10 years, Pakistan’s import bill further illuminates prospects. LNG demand continues to decline due to economic slowdown in US, Europe and Asian countries While the number of LNG exporters increased this year.
That’s because LNG prices started trading below $ 4 per MMBTU after dropping 40% compared to last year. If current conditions continue, prices are likely to fall below $ 3 per MMBT in the summer. On the other hand, CNG prices in Punjab are likely to decline.