Pakistan Buys LNG Cargo as Gas Shortfall Forces Fuel Rationing

By Bloomberg

Nov 27, 2023

image is BloomburgMedia_S4RN2BT1UM0W01_27-11-2023_11-00-06_638366400000000000.jpg

Pakistan LNG vessel.

Pakistan purchased a liquefied natural gas shipment for January in an effort to reduce a fuel deficit this winter.

State-run Pakistan LNG Ltd. bought the cargo from Oman’s OQ Trading, according to traders with knowledge of the matter. The shipment was secured at a price premium to the spot market due in part to Pakistan’s credit risk, they said.

The fuel will help reduce a supply shortage this winter that has seen further fuel rationing for the nation’s households and industries. Pakistan has struggled to buy LNG from the spot market after Russia’s invasion of Ukraine pushed prices to a record last year.

 

©2023 Bloomberg L.P.

By Stephen Stapczynski

KEEPING THE ENERGY INDUSTRY CONNECTED

Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.

By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.

Back To Top