Pakistan Pays Highest Spot LNG Price in Four Years as Qatar Supply Falters

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Pakistan LNG Ltd purchased the highest-priced spot cargo of liquefied natural gas in four years due to supply disruption from Qatar amid the Hormuz crisis escalation. The cargo was bought at about $20.70 per MMBtu for delivery next week.

State-controlled Pakistan LNG Ltd has bought the most expensive cargo of liquefied natural gas on the spot market in four years as the recent re-escalation of the Hormuz crisis cut off cargoes from its term supplier, Qatar. The state-owned Pakistani LNG importer has bought a cargo for delivery early next week via a tender that closed on Wednesday. The cargo was bought at a price of about $20.70 per million British thermal units (MMBtu), traders familiar with the deal told Bloomberg on Thursday.  The purchase price was the highest Pakistan…