CCOE opposes LNG supply guarantee
Insists imported gas supply should be based on competitive market mechanism
If the power producer fails to accept a minimum quantity of re-gasified LNG as per terms of the agreement, it will be liable to pay the amount equivalent to the notified price. PHOTO: AFP
ISLAMABAD:
The Cabinet Committee on Energy (CCOE) has emphasised that in future the government should not guarantee any liquefied natural gas (LNG) supplies, which should be based on a competitive market mechanism.
So far, the government has guaranteed LNG supplies which has exposed state-run gas companies to financial risk.
Already, a foreign commodity trading company has filed a case against state-run Pakistan State Oil (PSO).