ISLAMABAD: Pakistan has purchased an all-time high priced Liquefied Natural Gas (LNG) since the country began Liquified Natural Gas (LNG) imports in 2015, reports said.
According to reports, 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.
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, reports said.
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.
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