Pakistan Issues Third Tender for LNG Cargo Amid Price Volatility

Pakistan's state-owned Pakistan Liquefied Natural Gas Limited (PLNGL) has issued its third tender for an LNG cargo, following two previous cancellations. The tender seeks bids from international companies for a delivery window between September 12 and 16.

The deadline for bid submission is September 8, with all received bids to be opened on the same day. This marks the latest attempt by Pakistan to secure a reliable LNG supply amid rising demand.

Pakistan has been purchasing spot cargoes in recent months at increasingly high prices, with the most expensive purchase to date being $21.88 per MMBtu. The country's reliance on spot purchases raises concerns about price volatility and supply security.