The war in Ukraine is depriving far-away developing countries of electricity, as the world’s supply of liquefied natural gas used to produce power is swallowed up by European nations as an alternative to Russian gas. A tender from Pakistan for around $1 billion of liquefied natural gas attracted no offers Thursday , Pakistani officials said. Each day, businesses and homes are suffering hours of government-imposed electricity shutdowns because the country can’t import enough natural gas to fuel power plants. The price of LNG, which can be moved by ship around the world, has rocketed 1900% from the bottom hit two years ago amid suppressed demand during the Covid-19 pandemic. Current prices are the equivalent of buying oil at $230 a barrel, more than double the current price of oil. LNG normally trades at a discount to oil. LNG ships operating off Karachi, Pakistan; authorities in Pakistan failed to generate […]