Pakistan weighs spot LNG

Pakistan is considering buying liquefied natural gas (LNG) on the spot market to offset supply disruptions caused by the Iran war but would favour government-to-government deals to avoid having to pay steep premiums, its petroleum minister said. Qatar’s force majeure has forced Pakistan to make costly spot purchases or find alternative fuels ahead of summer demand. Spot LNG cargoes have surged to USD20 to USD30 per mmBtu amid the Middle East conflict, Ali Pervaiz Malik, the petroleum minister told Reuters on Wednesday. Purchases would depend on whether prices are acceptable to the power sector, including under existing government-to-government arrangements with Azerbaijan’s SOCAR.