Pakistan buys costliest LNG spot cargo for July

Pakistan has purchased its most expensive spot liquefied natural gas (LNG) cargo for July as the Pakistan LNG Limited (PLL) board approved the procurement at $21.88 per million British thermal units (MMBtu), sources said on Monday.

The cargo, scheduled for delivery on July 27-28, was awarded after PLL received only a single bid in response to its tender.

According to sources, TotalEnergies Gas & Power submitted the lone offer of $21.88 per MMBtu for the fifth LNG cargo to be delivered in July, which was subsequently approved by the PLL board.

The latest purchase marks the highest-priced LNG spot cargo procured by Pakistan for July so far.