Pakistan buys most expensive spot LNG cargo since March at $21.88 per MMBtu

Pakistan LNG Limited (PLL) has awarded its most expensive spot LNG cargo since March 2026 to TotalEnergies Gas and Power Limited at $21.88 per MMBtu for delivery on July 27–28.

TotalEnergies submitted the only bid received for the tender. PLL found the offer technically and commercially compliant and accepted it on Monday.

PLL had invited bids from international suppliers on July 17 for one spot cargo of 140,000 cubic metres for the July 27–28 delivery window.

The shipment will be Pakistan’s seventh spot LNG cargo since QatarEnergy declared force majeure on March 4 following an attack on its Ras Laffan LNG production complex.

QatarEnergy has extended the force majeure until August, disrupting supplies under Pakistan’s long-term agreement and forcing the country to procure cargoes from the spot market almost every week.

The latest price exceeds the $20.6999 per MMBtu offered by PetroChina International for a cargo awarded on July 15 and scheduled for delivery on July 21–22.

That shipment was previously the most expensive spot cargo purchased by Pakistan since it returned to the market following US and Israeli strikes on Iran on February 28, 2026.

With the latest shipment, Pakistan will have imported 12 LNG cargoes during the current supply period. These include seven spot cargoes purchased through international competitive bidding and five government-to-government cargoes supplied by QatarEnergy under the long-term contract.

The growing reliance on spot purchases has raised Pakistan’s LNG import costs because spot-market prices remain significantly higher than rates under long-term agreements.