Gas curtailment: Engro’s new plant down again
Sui Northern Gas Pipelines has discontinued gas supply to Engro Fertilizer’s new plant due to ‘sabotage’ activities on some gas fields, according to a notice issued by the local conglomerate on Friday.
The move was implemented to manage the demand-supply situation on the SNGPL network.
The curtailment is expected to be restored soon and was cited by analysts a short-term operational phenomenon.
“We do not expect any downward reversion in fertiliser prices due to these on-going gas curtailment issues, as opposed to earlier expectations of downward price revision amid sufficient availability of urea in the market,” said InvestCap research analyst Hasan Raza. Fauji Fertilizer and Fauji Fertilizer Bin Qasim will benefit as they are not provided gas from SNGPL.
Published in The Express Tribune, March 31st, 2012.
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