LNG prices down by 65pc in one year: PEW
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ISLAMABAD: The Pakistan Economy Watch (PEW) on Tuesday said China has emerged as last hope to stabilise international LNG market as prices have come down by 65 per cent in one year.
China can help disappointed LNG producers by reversing the domestic price hike for natural gas and expedite conversion of power plants on LNG
to reduce pollution, said
Dr. Murtaza Mughal, President PEW.
He said that demand in China is below the projection at 5.6 per cent due to slower growth but analysts hope that it will climb to double digit in some time. Dr Murtaza Mughal said that China is to meet its target of increasing natural gas use to 400 billion cubic meter annually by 2020 which is a good news for depressed LNG market.
