Facing energy crunch, Pakistan buys LNG cargoes at highest rates since 2015
As Pakistan has been facing an energy crisis, the Imran Khan government has procured liquefied natural gas (LNG) cargoes for September at the rates of 15.19-15.49 dollars per mm Btu which are the highest since 2015.
According to The News International, Pakistan is most likely to encounter another LNG crisis in September and October. The state-owned Pakistan LNG Limited (PLL) first cancelled the tender of eight cargoes for September and October, arguing that the rates were higher at 13.78 dollars per mmBtu, but now it has procured four cargoes at the highest-ever rates.
The PLL went for a closed tender for the month of September and managed to get the rates for four LNG cargoes at over 15 dollars per mmBtu, which are the highest-ever rates since it started buying LNG in 2015.
