Countries in southern Asia and other developing and emerging countries face a serious energy crisis, as Europe buys up the liquefied natural gas in its power struggle against Russia.
BERLIN/ISLAMABAD (Own report) – The European scramble for liquified natural gas (LNG) threatens to cause a breakdown in the energy supplies of numerous countries in southern Asia and other regions of the world, according to reports from Pakistan, Bangladesh, Thailand and various other countries. Pakistan, for example, can no longer purchase LNG from the spot market, because “every single molecule that was available in our region” has been purchased by Europe, Pakistan’s Petroleum Minister, Musadik Malik said. His government has long since been forced to ration electricity, reduce business hours and, at times, even curtail supplies to some of its industries. The export industry, which had recently been expanding, is now facing serious setbacks. The same holds true for Bangladesh, where – due to LNG shortage – its population must cope with power cuts and its industry with painful production losses. Similar reports are coming out of Thailand and other countries. This is caused by the fact that European states – seeking to deprive Moscow of the revenues from its gas sales – are buying up LNG at the expense of poorer nations. Read more