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.
The fuel will help reduce the gas supply gap this winter, as the nation’s households and industries have grappled with outages of fuel and electricity.
