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Pakistan to buy ‘costliest’ LNG cargoes to avert gas crisis

ISLAMABAD – The Pakistan LNG Limited (PLL), state-owned firm, has decided to buy an LNG cargo at the highest-ever price in order to avoid looming gas crisis during winter season in the country.

The company will procure the cargo at the price of $30.6 per million British thermal units (mmbtu), media reports claimed citing sources.

Earlier this month, PLL had issued a tender for emergency procurement of the LNG after two foreign trading companies revoked their deals with the Pakistani government to deliver two LNG cargoes by November 19-20.

In response, it received five bids with higher prices ranging from $29.8966 to $31.0566 per mmbtu from international LNG trading companies for two spot LNG cargoes.

The government is trying to buy another cargo to meet the growing demands of gas in the country.

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