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Pakistan LNG pays about $20.70 per MMBtu for record-price cargo
The purchase marks the highest spot LNG price Pakistan has paid since 2022, after Hormuz disruption cut off supplies from its main Qatar term supplier.
State-controlled Pakistan LNG Ltd bought a spot liquefied natural gas cargo at about $20.70 per million British thermal units, with delivery scheduled for early next week, according to OilPrice citing trader reports.
The deal price was the highest Pakistan has paid for an LNG cargo since 2022, when Asia spot prices surged to record levels following Russia’s invasion of Ukraine.
Pakistan faces procurement headwinds because it historically receives nearly all LNG from Qatar under long-term fixed deals, but re-escalation in the Strait of Hormuz has disrupted term supply flows.
OilPrice said Pakistan is on track to procure the most LNG cargoes on the spot market in one month since the Iran war began, after Hormuz-related disruptions forced it back to spot buying and additional tenders.
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