Pakistan buys spot LNG cargo at $21.88/mmBtu, highest price since March

Pakistan has awarded a spot liquefied natural gas (LNG) cargo to TotalEnergies Gas and Power Limited at $21.88 per million British thermal units (mmBtu), the highest price paid for a spot cargo since March 2026, according to Pakistan LNG Limited (PLL).

PLL said TotalEnergies submitted the only bid for one LNG cargo of 140,000 cubic metres for delivery on July 27–28, with the offer meeting both technical and commercial requirements.

The procurement marks Pakistan's seventh spot LNG purchase since QatarEnergy declared force majeure in March, disrupting supplies under the country's long-term LNG agreement and increasing reliance on the spot market.

The disruption followed an attack on QatarEnergy's Ras Laffan LNG production complex on March 4, 2026, amid heightened regional tensions. The force majeure has since been extended through at least August, prompting Pakistan to procure spot cargoes to meet domestic gas demand.

Earlier this month, PLL awarded another spot cargo to PetroChina International for delivery on July 21–22 at $20.6999 per mmBtu, which was then the highest spot LNG price paid by Pakistan since its return to the spot market.

With the latest award, Pakistan will have imported 12 LNG cargoes during the current supply period, including seven spot cargoes obtained through international tenders and five cargoes supplied by QatarEnergy under the long-term agreement