Pakistan LNG Limited has re-issued a tender for two spot cargoes for delivery at Port Qasim in December and January. The move follows the rejection of previous bids ranging from $27 to $31 per MMBtu, as the nation struggles to secure energy after Qatar declared force majeure on exports in March due to damage at the Ras Laffan hub.
Bullish
🤖 60%
Pakistan is re-issuing a tender for two spot LNG cargoes after rejecting bids of $27-31/MMBtu, and must spend over $1 billion for winter supply after Qatar declared force majeure in March following damage to Ras Laffan. Extra state buying competing with Asian and European winter buyers supports rising LNG and gas prices into December-January.
Catalysts
- ▲ Pakistan LNG Limited tender for two cargoes delivered at Port Qasim December 14-16 and January 9-11, 2027
- ▲ Pakistan set to pay in excess of $1 billion for winter LNG at hefty spot premiums
Risk Factors
- ▼ Pakistan previously rejected all bids as too expensive, showing demand destruction at high prices
- ▼ Only two cargoes are being sought, a small quantity that may not move global prices