Pakistan buys LNG cargo from expensive spot market after two years amid energy crunch: Bloomberg

Pakistan purchased a liquefied natural gas (LNG) shipment from the expensive spot market for the first time in over two years to ease a shortage caused by the conflict in the Middle East, Bloomberg reported.

Pakistan LNG Ltd. purchased an LNG shipment from TotalEnergies SE for April 27-30 delivery to Pakistan via a tender that closed on Friday, according to traders with knowledge of the matter. 

Pakistan opted not to buy two other shipments it was seeking via the same tender, said the traders, who asked not to be identified because the information is not public.

Pakistan LNG Limited had earlier sought three spot cargoes of around 140,000 cubic metres each to meet immediate demand amid supply disruptions and load-shedding. The deliveries were planned at Port Qasim across three windows: April 27–30, May 1–7, and May 8–14.

Four international suppliers submitted bids, reflecting tight global LNG markets. For the April window, TotalEnergies Gas & Power Limited offered the lowest price at $18.880 per MMBtu.

For the May 1–7 delivery, Vitol Bahrain quoted $18.540 per MMBtu, while for May 8–14, OQ Trading submitted the lowest bid at $17.997 per MMBtu, undercutting Vitol Bahrain’s $18.740 per MMBtu.

The tender closed on April 24, with bids indicating continued volatility in LNG pricing amid global supply disruptions.

Separately, SOCAR has signalled readiness to supply LNG to Pakistan under a 2025 framework agreement, allowing faster procurement through its trading arm.