Pakistan seeks sixth spot LNG cargo as Middle East supply disruption continues

Pakistan LNG Limited (PLL) has issued a fresh tender for a 140,000-cubic-metre liquefied natural gas (LNG) cargo, which would be the country’s sixth spot purchase since February 28 as disruptions to QatarEnergy’s long-term supplies continue, The News reported. 

The cargo is scheduled for delivery on July 21-22. 

Pakistan has increasingly turned to the spot market after QatarEnergy’s force majeure, declared on March 4, was extended until August amid tensions in the Strait of Hormuz and the wider regional conflict.

Once the new shipment arrives, Pakistan will have received 11 LNG cargoes during the period, including six spot purchases and five delayed term cargoes supplied by QatarEnergy.

BP Singapore is due to deliver the fifth spot cargo on July 15-16 after offering the lowest price of $18.2345 per mmBtu for a 140,000-cubic-metre shipment.

Before that, SK Resolute arrived at the Pakistan GasPort Consortium Limited terminal on July 11 with a TotalEnergies cargo priced at $17.37 per mmBtu.

ARADA delivered another spot shipment on July 4 at $16.7372 per mmBtu. BW Helios brought 167,000 cubic metres from Oman on June 9, while Seapeak Magellan delivered 140,000 cubic metres supplied by TotalEnergies on April 30.

Pakistan has also received five QatarEnergy cargoes that were loaded before the supply disruption.

Al Kharaitiyat delivered 210,000 cubic metres on May 12, followed by Mihzem with 160,000 cubic metres on May 16 and Fuwairit with 123,000 cubic metres on May 28.

Lebrethah arrived with 164,000 cubic metres on June 12, while MRAIKH delivered 170,148 cubic metres on June 22.

The five term cargoes were supplied under Pakistan’s government-to-government agreement with QatarEnergy at a price linked to 13.37% of the Brent crude benchmark.