Pakistan Purchases Most Expensive LNG Spot Cargo in Its History

Karachi: Pakistan has purchased the most expensive liquefied natural gas (LNG) spot cargo in its history to meet the country’s energy requirements, according to petroleum sector sources.

Pakistan LNG Limited (PLL) has approved the purchase of an LNG cargo for delivery in late July at a record price of $21.88 per million British thermal units (MMBtu).

Sources said the PLL Board approved the procurement after receiving only one bid in response to the tender. The sole offer came from TotalEnergies Gas & Power at $21.88 per MMBtu and was subsequently accepted.

According to petroleum officials, this is the fifth LNG cargo acquired for July deliveries and is the highest-priced spot LNG cargo ever purchased by Pakistan, surpassing all previous spot market procurements.

Pakistan had earlier secured four other LNG cargoes for July, with prices rising steadily due to market conditions. The cargo scheduled for delivery between June 30 and July 4 was purchased at $16.73 per MMBtu. Another cargo for July 10–11 cost $17.37 per MMBtu, while the shipment for July 15–16 was bought at $18.23 per MMBtu. The fourth cargo was acquired at $20.69 per MMBtu.

Energy sector experts attribute the sharp increase in LNG prices to tightening global supplies and sustained demand in international markets, forcing importing countries such as Pakistan to procure cargoes at significantly higher rates.

Analysts warn that the rising cost of LNG imports could increase Pakistan’s overall energy expenses and put additional pressure on the country’s import bill. However, officials maintain that timely procurement was essential to ensure an uninterrupted gas supply and maintain the balance between domestic demand and availability.

The latest purchase highlights the growing challenges faced by Pakistan in securing affordable energy supplies amid volatile global LNG markets.