Pakistan Buys Most Expensive LNG in 4 Years After Qatar Cancels Shipment

Pakistan has purchased its most expensive spot LNG cargo in nearly four years after securing a shipment for delivery on June 6-7 to help address rising gas demand and supply pressures.

According to tender documents issued by Pakistan LNG Limited (PLL), BP Singapore emerged as the lowest bidder with an offer of $19.13 per MMBtu for the cargo. Other qualified bids ranged between $19.14 and $19.94 per MMBtu.

The cargo is the most expensive spot LNG shipment purchased by Pakistan in about four years.

According to a Bloomberg reporter, the shipment was procured to replace a planned cargo from Qatar that was canceled at the last minute.

The tender attracted bids from Vitol Bahrain, TotalEnergies Gas & Power, SOCAR Trading, and BP Singapore, with BP’s offer ultimately emerging as the lowest evaluated bid.

Pakistan has traditionally relied on long-term LNG contracts, particularly with Qatar, but occasionally turns to the spot market when additional supplies are required.

The cargo is scheduled to arrive at Port Qasim on June 6-7 and is expected to help ease pressure on domestic gas and power supplies during the ongoing high-demand summer season.