Pakistan will spend more than $1 billion on liquefied natural gas imports during the upcoming winter season. The government intends to procure 22 cargoes of LNG for delivery between November 2026 and February 2027.
Of these shipments, 10 cargoes will be sourced from the spot market while 12 cargoes are scheduled for delivery from Qatar. Total costs for these imports are projected to reach $1,292.83 million.
Spot market purchases for the 10 cargoes will account for $863 million of the total expenditure. The latest tender price for spot LNG is quoted at $26.30 per MMBtu, with each cargo estimated to cost $86.3 million.
Long-term contracts with Qatar for 11 cargoes and Eni for one cargo in January will cover $429.83 million of the total bill. Demand is expected to peak in January 2027, requiring eight cargoes and pushing the monthly cost to $437.32 million.
Pakistan State Oil (PSO) maintains a sale-purchase agreement with QatarEnergy that covers 6.75 million tonnes of LNG annually. The agreement, which spans from 2016 to 2031, includes a specific 10-year period effective from 2021.
PSO and QatarEnergy previously agreed to divert 24 cargoes for 2026 because of low domestic demand. Pakistan State Oil is currently seeking federal government consent to review its contract with QatarEnergy before the agreements expire in 2031.
