PLL has issued urgent tenders for the import of three LNG cargoes covering the delivery window of April 27 to May 14
ISLAMABAD:
After securing several bids for short-term supply, the board of directors of Pakistan LNG Limited (PLL) on Saturday approved the purchase of a cargo of liquefied natural gas (LNG) from the spot market, which is expected to arrive in Pakistan on April 30.
According to official details, PLL has issued urgent tenders for the import of three LNG cargoes covering the delivery window of April 27 to May 14. In response, it received four offers, three of which were declared the lowest for different delivery windows.
For the first delivery window from April 27 to 30, TotalEnergies submitted the lowest bid, which the PLL board approved at a price of $18.88 per million British thermal units (mmBtu).
The approved cargo, carrying approximately 140,000 cubic meters of LNG, will be delivered on an ex-ship delivery (DES) basis and is expected to reach Pakistan on April 30. For the following delivery windows, Vitol Bahrain submitted the lowest bid of $18.54/mmBtu for the period May 1-7, while OQ Trading submitted the lowest bid of $17.997/mmBtu for the May 8-14 window. However, despite being the lowest bids, the PLL Board of Directors decided not to approve these bids.
PLL had launched the tender amid heightened uncertainty over global LNG supplies, particularly following Qatar’s reluctance to send LNG cargoes stranded in the Gulf due to the closure of the Strait of Hormuz.
Three LNG cargoes from Qatar, originally destined for Pakistan, had previously returned from this vital waterway due to security concerns, complicating supply arrangements.
Last month, the Oil and Gas Regulatory Authority (Ogra) notified a significant increase of 19 to 22 percent in the price of regasified liquefied natural gas (RLNG), taking it to between $12.50 and $14/mmBtu for distribution by the two Sui gas companies during the month of March.
PLL, one of the main public sector entities responsible for LNG imports, did not import any cargo last month.
