Islamabad
\nPakistan has issued two tenders seeking spot liquefied natural gas (LNG) cargoes for the first time in nearly a year on Tuesday, while also announcing a deal that will see Azerbaijan provide the country with one LNG cargo per month.
\nDependent on gas for power generation and running short of foreign exchange to pay for imports, the country has struggled to procure spot cargoes of LNG after global prices spiked last year following Russia\u2019s invasion of Ukraine, leaving it to face widespread power outages.
\nBut Asian spot LNG prices this year have eased from record highs of $70\/mmBtu hit in August, and are now trading below $10.
\nPakistan LNG, a government subsidiary that procures LNG from the international market, has one tender seeking six cargoes on a delivered-ex-ship (DES) basis to Port Qasim in Karachi in October and December, according to the tenders posted online.
\nThe delivery windows are Oct. 5-6, 20-21 and 31, and Dec. 7-8, 13-14 and 24-25. The tender will close on June 20.
\nPakistan LNG\u2019s second tender seeks three cargoes, also on DES basis to Port Qasim, for delivery windows of January 3-4, 28-29 and February 23-24. The second tender closes on July 14.
\nPakistan LNG last issued a tender seeking 10 spot cargoes in July 2022, but it received no offers.
\nSeparately on Tuesday, Pakistan\u2019s petroleum minister Musadik Malik told a news conference that Azerbaijan will supply an LNG cargo every month to Pakistan at a \u201ccheaper price.\u201d
\nHe did not share details on the supply deal, but said that a contract had already been signed with Azerbaijan and that it will \u201cstart soon.\u201d
\nPakistan has two long-term supply deals with Qatar, one signed in 2016 for 3.75 million metric tons of LNG a year, and another signed in 2021 for 3 million metric tons a year.
\nIt also has an annual portfolio contract with ENI for 0.75 million metric tons a year.
\nIn 2022, Pakistan\u2019s imports of LNG slowed to 6.93 million metric tons for the year, down from 8.23 million metric tons in 2021, according to data from data analytics group Kpler.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad Pakistan has issued two tenders seeking spot liquefied natural gas (LNG) cargoes for the first time in nearly a year on Tuesday, while also announcing a deal that will see Azerbaijan provide the country with one LNG cargo per month. Dependent on gas for power generation and running short of foreign exchange to pay […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-337428","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"\n