Sunday, December 10, 2023

Pakistan is compelled to purchase the most expensive LNG cargoes

A U.S. financial journal article Bloomberg said Pakistan had been compelled, after betting prices would fall, to “pay more than ever” for Liquefied Natural Gas (LNG).

Failure to buy LNG at the rate is a danger of blackouts in the study. Pakistan acquired four LNG cargos in September this month, which categorized individuals with knowledge of the topic as “the highest since the nation began imports in 2015,” for around €15 per million British thermal units.

“High prices blow,” said the research. LNG importing policies have been developed in Pakistan and other developing nations on the premise of fuel being abundant and cost-effective in the foreseeable future, as was the case for many years.

This has altered this year as Bloomberg statistics show that the current Asian LNG spot price is trading around 67% over the 10-year average.”

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