Pakistan seeks spot LNG cargoes, inks supply deal with Azerbaijan

This representational file photo shows a fisherman standing in his boat as a liquid natural gas tanker (LNG) passes the coast near Havana on June 28, 2009. (REUTERS)
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Updated 13 June 2023
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Pakistan seeks spot LNG cargoes, inks supply deal with Azerbaijan

  • Pakistan has struggled to procure spot cargoes of LNG after global prices spiked last year following Russia's invasion of Ukraine
  • But Asian spot LNG prices this year have eased from record highs of $70/mmBtu hit in August and are now trading below $10

SINGAPORE: Pakistan has issued two tenders seeking spot liquefied natural gas (LNG) cargoes for the first time in nearly a year on Tuesday, while also announcing a deal that will see Azerbaijan provide the country with one LNG cargo per month. 

Dependent on gas for power generation and running short of foreign exchange to pay for imports, the country has struggled to procure spot cargoes of LNG after global prices spiked last year following Russia's invasion of Ukraine, leaving it to face widespread power outages. 

But Asian spot LNG prices this year have eased from record highs of $70/mmBtu hit in August, and are now trading below $10. 

Pakistan LNG, a government subsidiary that procures LNG from the international market, has one tender seeking six cargoes on a delivered-ex-ship (DES) basis to Port Qasim in Karachi in October and December, according to the tenders posted online. 

The delivery windows are Oct. 5-6, 20-21 and 31, and Dec. 7-8, 13-14 and 24-25. The tender will close on June 20. 

Pakistan LNG's second tender seeks three cargoes, also on DES basis to Port Qasim, for delivery windows of January 3-4, 28-29 and February 23-24. The second tender closes on July 14. 

Pakistan LNG last issued a tender seeking 10 spot cargoes in July 2022, but it received no offers. 

Separately on Tuesday, Pakistan's petroleum minister Musadik Malik told a news conference that Azerbaijan will supply an LNG cargo every month to Pakistan at a "cheaper price." 

He did not share details on the supply deal, but said that a contract had already been signed with Azerbaijan and that it will "start soon." 

Pakistan has two long-term supply deals with Qatar, one signed in 2016 for 3.75 million metric tons of LNG a year, and another signed in 2021 for 3 million metric tons a year. 

It also has an annual portfolio contract with ENI for 0.75 million metric tons a year. 

In 2022, Pakistan's imports of LNG slowed to 6.93 million metric tons for the year, down from 8.23 million metric tons in 2021, according to data from data analytics group Kpler.


Chinese giant Hoymiles enters Pakistani market to provide high-tech energy storage solutions

Updated 05 January 2026
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Chinese giant Hoymiles enters Pakistani market to provide high-tech energy storage solutions

  • The development comes after Pakistan emerges as one of world’s fastest-growing solar markets, importing nearly 50GW of solar panels
  • Hoymiles entry will address long-hour backup and energy storage challenges facing Pakistan’s growing solar sector, local partner says

KARACHI: Renowned Chinese inverter manufacturer Hoymiles has entered Pakistan to provide high-tech, long-duration energy storage solutions for residential, commercial and industrial buildings by utilizing solar systems for electricity consumption, its Pakistani partner said on Monday.

Over the past few years, a large number of Pakistani industrial, commercial and residential electricity consumers have shifted to solar power systems to address frequent power outages and the rising cost of electricity. Reports indicate that net-metering capacity currently stands at 6,000 megawatts (MWs), while off-grid solar capacity has increased to 12,000 MWs in Pakistan by the end of 2025.

Hoymiles has formed strategic partnerships with Superstar, a renowned name in Pakistan’s automotive industry, and Harisun Energy, a new entrant in the energy solutions sector, to explore the Pakistani market, which is witnessing rapid growth in solar power adoption. In this regard, launch events were held simultaneously in Karachi and Lahore, unveiling multiple storage solutions produced by Hoymiles under the brands of Harisun Energy and Superstar.

Speaking as the chief guest at the Hoymiles launching ceremony in Karachi, Ali Rashid, advisor to Sindh chief minister on science and information technology (IT), said the provincial government appreciates foreign investors, particularly Chinese companies, establishing their industries, assembly, and distribution units in Karachi to meet the demand of the local market as well as export solutions to other countries.

“The government is working rigorously to facilitate foreign investors and companies to enhance their business and commercial activities, mainly in the technology and renewable energy sectors, to improve the living standards of the public and boost economic activity within the country and the province of Sindh,” he said.

The Sindh government is currently collaborating with various Chinese companies across different sectors, including logistics and renewable energy, and it welcomes further cooperation between the private and public sectors, according to Rashid.

The provincial government is considering establishing its own regulatory authority and transmission company, aimed at setting up a separate electricity grid system at the provincial level, which could provide affordable electricity to the masses and enhance connectivity to remote areas, preferably through renewable energy resources.

According to a report by the International Energy Agency (IEA), Pakistan has emerged as one of the world’s fastest-growing solar markets, importing approximately 50 GW of solar panels amid falling prices and widespread adoption across sectors in the first half of the year. This surge has made Pakistan the third-largest market for Chinese solar panels, a growth that has attracted global attention.

Superstar Solar Energy and Harisun Energy are introducing Hoymiles’ innovative range of solar inverters, energy storage solutions, and smart energy management systems to the Pakistani market. These solutions are designed to deliver reliable, efficient, and sustainable energy, empowering individuals and businesses to harness solar power as a clean and green energy source.

“Pakistan’s growing solar sector is facing a major challenge related to long-hour backup and energy storage solutions, which will soon be addressed with the entry of a global leader in energy solutions,” said Haris Jamsheed, CEO of Harisun Energy.

“Our partnership with the Chinese company will provide innovative energy storage solutions for residential, commercial, and industrial solar systems, enabling uninterrupted electricity supply at workplaces, factories, and homes during nighttime hours.”

Solarization has continued to expand across the country on a large scale due to prolonged load-shedding in remote areas and the high cost of electricity, which has become unaffordable for many households and industrial units, particularly in recent years.

“We have vowed to bring an energy revolution to Pakistan through innovative storage solutions, as the industrial and commercial sectors can enhance productivity with low-cost electricity backup systems,” said Saleem Umar, Chairman of Superstar.

“Affordable electricity will reduce operational costs at the domestic level, enabling exporters to compete more effectively in global markets.”