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Europe’s marketing campaign to give up Russian gas is designed to punish Moscow for its invasion of Ukraine. It’s additionally wreaking havoc hundreds of miles away from the battle, plunging Pakistan into darkness, undermining one regime and threatening the soundness of the nation’s new management.
A decade in the past, the world’s fifth-most populous nation took particular steps to insulate itself from the sorts of violent worth spikes which might be roiling the market immediately. It made a large funding in liquefied pure fuel (LNG) and signed long-term contracts with suppliers in Italy and Qatar. Now a few of these suppliers have defaulted, although they proceed to promote into the extra profitable European market, leaving Pakistan in precisely the place it tried so arduous to keep away from.
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