Pakistan Buys Spot LNG Shipment for First Time in Over a Year
- Vitol to supply Pakistan with cargo at premium to spot price
- The move will help ease the nation’s winter gas shortage
A floating storage regasification unit receives liquefied natural gas at an LNG Terminal in Karachi, Pakistan.
Photographer: Asim Hafeez/BloombergThis article is for subscribers only.
Pakistan purchased a liquefied natural gas shipment from the spot market for the first time in more than a year, a move that will ease a winter energy shortage.
Pakistan LNG Ltd. procured a single cargo for December delivery from Vitol SA at roughly a 13% premium to current spot prices, according to traders with knowledge of the information. Pakistan was seeking as many as two cargoes in a tender that closed earlier on Wednesday.