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Pakistan faces over $1 billion LNG procurement cost for winter months
The extra spending is driven by Asia spot LNG prices hitting three-year highs and the government planning 10 spot-market cargoes at about double Qatar-linked import pricing.
OilPrice reports that Pakistan expects to spend more than $1 billion to secure LNG supply for the winter months.
The outlet says the cost increase is linked to spot LNG prices in Asia surging to three-year highs, amid massive disruptions to Qatari term supply.
OilPrice adds that the Pakistani government is planning to import 10 LNG cargoes from the spot market, which it says are priced at about double the rate Pakistan pays for LNG imported from Qatar.
The report frames the bill as a direct result of higher spot-market pricing used to cover winter supply needs as term supply from Qatar has been disrupted.