Pakistan buys costliest LNG spot cargo for July

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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.