Pakistan Shuns Spot LNG as It Bets on Potential Hormuz Easing

Pakistan opted not to buy urgent cargoes of liquefied natural gas on the spot market, betting that hostilities which have closed the Strait of Hormuz will ease and cheaper supplies from Qatar will arrive soon.

State-owned Pakistan LNG Ltd. didn’t award an emergency tender seeking two shipments for May delivery that closed Thursday, said traders with knowledge of the matter. The government made the decision with the view that the conflict between the US and Iran was easing, and that the South Asian country would soon receive two cargoes from Qatar, they added.