Pakistan has purchased its most expensive LNG spot cargo for July, with the shipment secured at a price of $21.88 per million British thermal units (MMBtu), according to sources.
Sources said the Pakistan LNG Limited (PLL) board approved the purchase. The cargo is scheduled to be delivered between July 27 and 28.
The bid for the fifth LNG cargo for July was submitted by Total Energies Gas & Power at $21.88 per MMBtu. Sources added that PLL received only one bid for the spot cargo.
Pakistan has so far purchased five LNG spot cargoes for July, with prices increasing throughout the month. The first cargo, for delivery between June 30 and July 4, was bought at $16.73 per MMBtu.
The second cargo, scheduled for July 10–11, was purchased at $17.37 per MMBtu, followed by the third cargo for July 15–16 at $18.23 per MMBtu.
The previous cargo was bought just two days ago at $20.69 per MMBtu, underscoring the continued rise in LNG spot prices.
The latest purchase at $21.88 per MMBtu marks the highest-priced LNG spot cargo acquired by Pakistan for July so far.
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