Pakistan LNG Limited (PLL) has accepted a bid from TotalEnergies for a spot liquefied natural gas (LNG) cargo at $17.37 per million British thermal units (mmBtu).
The cargo is scheduled for delivery between July 10 and July 11, marking another instance of the state-owned entity turning to the international spot market to secure fuel supplies.
The transaction underscores the persistent structural deficit in Pakistan’s domestic gas supply, which forces the government to rely on expensive spot imports to meet demand.
While the spot price of $17.37/mmBtu reflects current global market conditions, it stands in stark contrast to the domestic pricing regime.
The Pakistani government has previously mandated a fixed supply price of Rs2,000 per mmBtu for local gas delivered to regasified LNG terminals, creating a significant subsidy burden that is typically absorbed by the state or passed on to consumers through regulated tariffs.
This procurement occurs against a backdrop of recent government interventions aimed at stabilizing energy costs.