Pakistan LNG Ltd. received seven bids from global energy traders on May 7 for two spot liquefied natural gas cargoes for May delivery, as supply disruptions linked to the Middle East conflict force the country to seek emergency alternatives. The state-run importer posted the results on its website, with bids covering deliveries between May 12 and 26. This is Pakistan's second spot LNG tender in recent weeks.
Why is Pakistan buying spot LNG amid the Middle East conflict?
The Middle East conflict has disrupted Pakistan's long-term LNG supply from Qatar, including through restrictions on Strait of Hormuz shipping. With term supplies affected and summer power demand rising, Pakistan has returned to the spot market for the first time since late 2023. The tenders are intended to fuel power plants and prevent load-shedding during peak summer months.
Which companies bid on Pakistan's spot LNG tenders?
For the May 12 to 14 delivery of 140,000 cubic metres, three bids were received. BP Singapore submitted the lowest offer at $17.284 per million British thermal units (mmbtu), followed by PetroChina International Singapore at $17.69/mmbtu and Vitol Bahrain at $17.84/mmbtu.
For the May 24 to 26 delivery window, four companies bid. TotalEnergies Gas Power offered the lowest price at $16.98/mmbtu. The remaining bids came from SOCAR Trading at $17.21/mmbtu, PetroChina International Singapore at $17.49/mmbtu, and OQ Trading at $18.58/mmbtu.
How has Pakistan's LNG import volume changed in 2026?
Pakistan's LNG imports have fallen sharply this fiscal year. Data from the Pakistan Bureau of Statistics showed LNG inflows dropped to $70 million in March, down from $189 million in February and $226 million in March 2025. Imports for the nine months ending March 31 totalled $1.884 billion, compared with $2.682 billion during the same period a year earlier.
The decline reflects both the disruption to Middle East supply routes and the country's reduced ability to source cargoes under long-term agreements. Pakistan typically imports between nine and 10 LNG cargoes each month from Qatar under term contracts. With those flows interrupted, spot purchases have become a short-term necessity.
What was Pakistan's previous spot LNG tender in 2026?
On April 23, Pakistan LNG invited bids for three spot cargoes for delivery in late April and early May, its first such tender since 2023. The company received four bids from three international suppliers, according to documents released on April 24. One cargo was accepted at $18.4/mmbtu, while two bids for the same delivery period were rejected.
The LNG tanker Seapeak Magellan subsequently arrived at the Pakistan GasPort terminal at Port Qasim, carrying Pakistan's first cargo sourced from Sabine Pass in the United States in around two months. That shipment reflected a broader effort to diversify supply away from Middle Eastern sources while regional shipping routes remain disrupted.
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