Energy
Pakistan Buys LNG Supply From Spot Market to Ease Energy Crunch
Workers monitor a liquefied natural gas ship-to-ship operation at an LNG Terminal in Karachi, Pakistan.
Photographer: Asim Hafeez/BloombergPakistan purchased a liquefied natural gas shipment from the expensive spot market for the first time in over two years to ease a shortage caused by the conflict in the Middle East.
Pakistan LNG Ltd. purchased an LNG shipment from TotalEnergies SE for April 27-30 delivery to Pakistan via a tender that closed on Friday, according to traders with knowledge of the matter. Pakistan opted not to buy two other shipments it was seeking via the same tender, said the traders, who asked not to be identified because the information is not public.