LNG supply chain in jeopardy as PLL defaults on payments
National
February 11, 2021
ISLAMABAD: In a shocking development, the 100 percent state-owned company, Pakistan LNG Limited (PLL), has defaulted with the United Bank Limited (UBL) on LNG payments, putting the LNG supply chain in jeopardy.
This appalling situation, which has emerged because of non-payment of dues of Rs61.2 billion by Sui Northern, has exposed PLL to an imminent default on future LNG supply. This irritating development was identified in Pakistan LNG Limited’s (PLL) letter of February 4, 2021 to Special Secretary of Petroleum Division Nadeem Irshad Kiyani. It mentions that receivables of PLL from Sui Northern Gas Pipelines Limited have increased to a whopping Rs61.2 billion. And because of non-payment by Sui Northern, its economic miseries have increased to a new high because of which it defaulted with UBL on LNG payments on February 3, 2021.