Pakistan Gasport seeks country’s first spot LNG cargo in over a year

akistan Gasport is looking to buy a spot liquefied natural gas (LNG) cargo for November delivery, its chairman Iqbal Ahmed told Reuters on Thursday, which would be the country’s first spot LNG deal since June 2022. The country, facing a severe economic and foreign exchange crisis, has struggled to purchase the super-chilled fuel following a surge in prices after Russia’s invasion of Ukraine last year. LNG is crucial for Pakistan, where natural gas accounts for over a third of power generation and local gas reserves are insufficient to address growing electricity demand in a country of over 230 million, leading to frequent power cuts. Pakistan Gasport is evaluating interest for a cargo from sellers in Oman, the United States and the United Arab Emirates, Ahmed said. “We’ve got different countries which have offered us different options. We are extremely encouraged by what we’ve heard today,” Ahmed told Reuters.