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Pakistan issues another LNG spot tender as Strait of Hormuz disruption returns
The new tender targets July delivery, following a prior July 15 to 16 spot purchase after Qatar cargoes were canceled amid renewed fighting near the Strait of Hormuz.
Pakistan is preparing to buy additional liquefied natural gas on the spot market, issuing a second emergency tender in as many weeks as renewed hostilities disrupt shipping through the Strait of Hormuz, OilPrice reports.
According to the tender document seen by Bloomberg, Pakistan LNG is seeking another cargo for delivery in July, building on last week’s tender for a July 15 to 16 arrival.
The latest decision was made after renewed hostilities led to the cancellation of a Qatar LNG cargo that was expected to reach Pakistan later this month, Bloomberg reported citing anonymous traders.
Because Pakistan relies heavily on Qatari long term fixed deals, the disruption is forcing more spot procurement, and if the July tender is completed, Pakistan would have bought at least four LNG cargoes for July, the most in a single month since the Iran war began on February 28, the report said.
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