India, Pakistan and Bangladesh are looking to buy LNG in an extremely tight market as top Asian buyers Japan and South Korea have come out to cover their winter requirements.

“While global markets have been focused on Europe and the supply dynamics there, the unintended consequences of energy sanctions on Ukraine are weighing heavily on many developing Asian economies,” the Oxford Institute of Energy Studies wrote in a report this month. 

State-owned Pakistan LNG invited bids for 72 cargoes by September, or one cargo per month, over six years starting from January 2023. The country is suffering power shortages as demand increases through the summer months.

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