Gas Prices Remain Unchanged in 2026. The federal government has decided not to raise gas prices in 2026. The rates will remain steady throughout the year, providing relief to consumers.
Federal Minister for Petroleum, Ali Pervaiz Malik, shared this update during a meeting with the National Assembly’s standing committee. He confirmed that the decision was made based on instructions from the Prime Minister, ensuring no price hike in gas for the upcoming year.
Why Gas Prices Are Staying the Same
Ali Pervaiz Malik explained that the government opted to keep gas prices unchanged because the gas sector’s circular debt is no longer growing. The current circular debt in the gas sector stands at Rs. 3,000 billion, including liabilities related to Liquefied Natural Gas (LNG). Of this amount, Rs. 1,700 billion is attributed to interest payments.
LNG Supply Consistency Despite Global Volatility
The minister also discussed Pakistan’s LNG supply situation, emphasizing Qatar’s commitment to the agreed terms. Despite global price fluctuations, including a rise to $30 per unit, Qatar continued to provide LNG to Pakistan without altering the supply agreements. This consistency has been crucial for Pakistan, especially during times of high international LNG prices.
Gas Demand in the Power Sector
Ali Pervaiz Malik further provided insights into gas demand patterns, especially within the power sector. The demand for gas in the morning reaches approximately 800 million cubic feet per day (MMCFD). However, this demand decreases to around 400 MMCFD by midday. In January, the power sector initially required 200 MMCFD but later raised the demand to 500 MMCFD.
Future Offshore Drilling Plans
Looking ahead, the minister also informed the committee about plans for offshore drilling in the Indus Basin. Turkish Petroleum is set to lead this project, and local Pakistani companies will be expected to contribute financial support for the drilling operations.
Conclusion
there will be no gas price hike in 2026, providing stability for consumers. The government’s efforts to control the circular debt in the gas sector, along with consistent LNG supplies from Qatar, have played a key role in maintaining this decision. As the power sector’s gas demand fluctuates, the government is also exploring new drilling projects to meet future energy needs.
