Pakistan secures LNG shipment for January delivery

Pakistan has successfully secured a liquefied natural gas (LNG) shipment for January delivery to address the fuel deficit anticipated during the winter season, as reported by Bloomberg.

Oman’s OQ Trading has been awarded the tender by Pakistan LNG Limited (PLL) for a spot LNG cargo scheduled for delivery in January.

The state-run PLL, cognizant of Pakistan's credit risk, secured the shipment at a price premium to the spot market. This move comes as Pakistan faced challenges in procuring spot LNG cargoes amid last year's global price spikes triggered by Russia’s invasion of Ukraine, leading to power outages in the country.