Pakistan Buys Its Most Expensive LNG Cargo in 4 Years

Pakistan has purchased its most expensive spot LNG cargo since 2022, as supply disruptions linked to tensions around the Strait of Hormuz continue to drive global energy prices higher.

According to official bid documents, Pakistan LNG Limited (PLL) awarded a July 21-22 cargo to PetroChina International at $20.6999 per MMBtu, the lowest bid received. BP Singapore also submitted a bid at $21.3737 per MMBtu.

The purchase price is nearly double the cost of Pakistan’s long term LNG imports from Qatar, highlighting the sharp premium buyers are paying in the spot market following renewed geopolitical tensions in the Middle East.

The latest procurement comes as Pakistan faces increased pressure to secure fuel supplies amid heightened uncertainty in global LNG markets.

The Strait of Hormuz, through which a significant share of the world’s oil and LNG trade passes, remains under close watch following recent regional developments, pushing spot LNG prices to multi year highs.