PLL, one of the public sector entities responsible for LNG imports, did not import any cargo last month
Pakistan LNG Limited (PLL) on Friday secured three bids ranging from $17.997 to $18.88 per million British thermal units (mmBtu) for delivery of liquefied natural gas between April 27 and May 8, a day after inviting urgent tenders for the import of three cargoes.
A total of four offers were received and three were declared the lowest. For the first delivery window from April 27 to 30, Total Energies submitted the lowest bid of $18.88 per mmBtu. Vitol Bahrain’s bid of $18.54 was declared the lowest for the May 1-7 window, while OQ Trading was the lowest bid at $17.997 per mmBtu for delivery between May 8-14. The cargoes will carry 140,000 cubic meters of LNG delivered ex-ship (DES).
The tender follows Qatar’s reluctance to send LNG-laden cargoes stuck in the Gulf due to the closure of the Strait of Hormuz. Qatar’s three LNG shipments destined for Pakistan had earlier returned from this vital waterway due to security concerns.
Last month, the Oil and Gas Regulatory Authority (Ogra) notified a massive 19-22% increase in the price of regasified liquefied natural gas (RLNG) to $12.50-14 per mmBtu for sales at the distribution stage by the two Sui gas companies for the month of March.
PLL, one of the public sector entities responsible for LNG imports, did not import any cargoes last month. In fact, it had imported a shipment a few months ago after a nearly year-long hiatus at a rate of $7.65 per mmBtu under its previous contract with a private entity.
