Pakistan Seeks Emergency LNG Supply to Ease Natural Gas Shortage
(Bloomberg) -- Pakistan is urgently looking to purchase liquefied natural gas from the spot market for delivery in May, as the country faces hot weather that threatens to stretch the grid and worsen a shortage of the power plant fuel.
State-owned Pakistan LNG Ltd. is seeking shipments for May 12 to 14 and May 24 to 26 delivery in a tender that closes on Thursday, according to a notice on its website. Pakistan was forced to purchase a spot cargo for the first time in more than two years last month as the war in Iran chokes supply from the Persian Gulf, which normally produces about a fifth of the world’s LNG.
Pakistan procured nearly all of its LNG from Qatar last year, and those supplies have been cut since the US and Israel began strikes on Iran in late-February. Meanwhile, higher-than-normal temperatures are sweeping across the nation, boosting electricity needs from air conditioning and exacerbating rolling blackouts because of reduced output from gas-fired power plants.
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