Summary Pakistan has purchased an all-time high priced Liquefied Natural Gas at more than $15 per MMBTU.
ISLAMABAD (Dunya News) - Pakistan has purchased an all-time high priced Liquefied Natural Gas (LNG) since the country began LNG imports in 2015, Dunya News reported.
According to sources, Pakistan bought four cargoes for September delivery at at more than $15 per MMBTU (per per million British thermal units), forcing the country to pay more than ever for the power plant fuel.
Sources said that the LNG rate for September 6-7 is $15.39 MMBTU, for September 12-13 is $15.49 MMBTU and the rate for September 17-18 is $15.39 MMBTU.
Pakistan’s power generators will be the main consumers of the latest cargoes, without which there was a risk that the nation wouldn’t have enough electricity.
The price hikes have come amid a global supply crunch of natural gas that has sent rates from the U.S. to Europe surging as importers compete for a finite amount of readily available fuel.
