Pakistan Seeks Another Long-Term LNG Deal

Pakistan is looking to sign another long-term liquefied natural gas purchase arrangement to compensate for domestic fuel production woes, Bloomberg reported on Thursday. According to Pakistan LNG Limited (PLL) CEO Masood Nabi, the contract would be for one cargo per month, but whether or not a deal is reached will be determined after reviewing rates offered by suppliers. He projected gas availability in Pakistan this winter to be similar to last year. He added that PLL is aiming to acquire up to two cargoes for January delivery from the spot market. Earlier this week, the country secured an LNG shipment for December delivery from the spot market, the first purchase made by the energy-hungry nation in over a year. It bears mentioning that Pakistan has struggled to procure the required volume of LNG to meet its needs since the Russia-Ukraine war. The resultant gas shortages have increased in various sectors and households since then.