Pakistan has secured a third spot liquefied natural gas (LNG) cargo for July, with state-owned Pakistan LNG Limited (PLL) accepting a bid from BP Singapore at $18.2345 per million British thermal units (mmBtu).
The deal marks the country’s latest move to shore up domestic gas supplies as regional shipping risks continue to complicate procurement from traditional sources.
The transaction follows two earlier spot purchases in the same month, including a cargo accepted from TotalEnergies at $17.
The transaction follows two earlier spot purchases in the same month, including a cargo accepted from TotalEnergies at $17.37/mmBtu for mid-July delivery.
The slight price increase in the latest deal reflects persistent tightness in the spot market, driven by renewed hostilities in the Strait of Hormuz that have disrupted shipments from Qatar and other Gulf producers.
Pakistan’s urgent sourcing efforts come after an explosion at Qatar’s Ras Laffan LNG hub in late June raised fears of broader supply disruptions in global gas markets.
Although the incident was later ruled a technical accident, the geopolitical instability in the region has kept buyers cautious and spot prices elevated.