In the wake of Pakistan securing a $3 billion loan approval from the International Monetary Fund (IMF), Trafigura Group has offered to supply the nation with two shipments of liquefied natural gas (LNG) for delivery from January to February. This marks the first time a supplier has responded to Pakistan’s request for LNG in over a year.
Last month, the country’s bid for six LNG shipments went unanswered due to credit risk concerns. The fuel offered by Trafigura is priced at a 30% premium over current market prices, and a final decision on the purchase will be made by July 31.
This IMF approval and the subsequent $1.2 billion deposit into the State Bank of Pakistan’s account have provided hope for the economically-struggling nation.
