The government yesterday approved the purchase of five liquefied natural gas (LNG) cargoes, including three from the spot market, to help meet the country’s energy demand as supplies under long-term contracts face uncertainty amid the conflict in the Middle East.

The Cabinet Committee on Government Purchase (CCGP) approved the proposals at a meeting yesterday following recommendations from the Energy and Mineral Resources Division.

Among the approved proposals was the purchase of two LNG cargoes from SOCAR Trading SA of Switzerland under a direct procurement method for 2026. Under the agreement, the LNG will be purchased at a price linked to the Japan-Korea Marker (JKM) benchmark, with a premium of $0.25 per million British thermal units (MMBtu).

The committee also approved the purchase of three LNG cargoes from the spot market. The cargoes are scheduled for delivery during three separate windows: June 26-27, June 30-July 1 and July 6-7.

According to the approvals, BP Singapore Pte Ltd will supply one cargo, while TotalEnergies Gas & Power Ltd of the UK will supply the remaining two.