PLL, one of the public sector entities responsible for LNG imports, did not import any cargo last month
The Pakistan LNG Limited (PLL) on Friday secured three bids at $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 it floated urgent tenders for the import of three cargos.
A total of four bids were received and three were declared the lowest. For the first delivery window of April 27-30, 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 bidder at $17.997 per mmBtu for delivery between May 8 and 14. The cargoes will carry 140,000 cubic meters of LNG delivered ex-ship (DES).
The tender came following Qatar’s reluctance to send LNG-loaded cargoes stranded in the Gulf due to the closure of the Strait of Hormuz. Qatar’s three LNG cargoes meant for Pakistan had earlier returned from the vital waterway due to security reasons.
Last month, the Oil and Gas Regulatory Authority (Ogra) had 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.
The PLL, one of the public sector entities responsible for LNG imports, did not import any cargo last month. In fact, it had imported one cargo a couple of months ago after a gap of almost a year at the rate of $7.65 per mmBtu through its old contract with a private entity.
