Eni said on Wednesday that the delivery of a liquefied natural gas (LNG) cargo to Pakistan LNG Limited that was scheduled for February has been disrupted due to an event of force majeure.
From 2017 through 2032, the Italian giant will deliver one cargo of LNG to Pakistan per month under a 15-year agreement.
“The February LNG delivery disruption is due to an act of force majeure and is beyond the reasonable control of ENI. ENI stated that it does not gain anything from the situation.
“All the previous disruptions in LNG delivery suffered by ENI have been caused by the LNG supplier who didn’t fulfill the agreed obligations. Also in these cases, ENI did not take advantage or benefit in any way from these defaults and applied all contractual provisions to manage such disruptions.”
Due to rising gas prices around the world—which reached record highs last year as a result of Russia’s invasion of Ukraine—Pakistan has had difficulty obtaining spot LNG shipments.
Long-term agreements for LNG imports to Pakistan are insufficient to meet the nation’s escalating fuel needs.
An inquiry for comment was not promptly answered by Pakistan LNG, a government-owned company that buys LNG on the market outside.
Pakistan imported nine billion cubic metres (bcm) of LNG last year, according to Refinitiv data, down nearly 20 per cent from 11.2 bcm in 2021.