Pakistan Shells Out Record Sums for Spot LNG as Qatar Supply Falters

Pakistan is paying top dollar for LNG supply as the renewed closure of the Strait of Hormuz and the stranding of cargoes from its term supplier Qatar have forced the South Asian country to seek liquefied natural gas on the spot market.

So far this month, Pakistan has issued several tenders for July delivery and is apparently willing to pay up to secure supply.

In the latest tender, state-controlled importer Pakistan LNG Limited has accepted an offer from TotalEnergies Gas & Power Limited for a spot cargo for delivery on July 27-28, at a price…