finance
Pakistan seeks up to seven spot LNG cargoes after Qatari shipments disrupted
Pakistan is moving to purchase at least one additional LNG cargo for July delivery and as many as six for August on the spot market. The purchases come after renewed hostilities halted shipments from its main long-term supplier Qatar.
Jul 16, 11:57 AM·1m read10 sources
+7
EmergencyCostly
techjuice.pkAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Pakistan is seeking at least one additional LNG cargo for July delivery and up to six cargoes for August delivery on the spot market. The government is close to finalizing the purchases after renewed hostilities in the Strait of Hormuz cut off shipments from Qatar, its primary long-term supplier.
State-controlled Pakistan LNG Ltd bought one cargo for delivery early next week through a tender that closed Wednesday.
Traders familiar with the deal said the cargo was purchased at approximately $20.70 per million British thermal units, the highest price Pakistan has paid for an LNG cargo since 2022. Pakistan has historically received nearly all its LNG from Qatar under long-term fixed contracts.
The country issued a second tender for spot supply in as many weeks after no LNG tankers were observed exiting the Strait of Hormuz for days.
The South Asian nation is on track to procure the most LNG cargoes on the spot market in one month since the Iran war began. The latest escalation is forcing Pakistan to replace disrupted term supplies with more expensive spot purchases.
