Pakistan to purchase 10 LNG cargos from spot market

ISLAMABAD   –  To overcome the elec­tricity shortage, the government has float­ed tender for the pur­chase of 10 Liquefied Natural Gas (LNG) car­gos from the spot mar­ket. Pakistan LNG Lim­ited (PLL) has invited bids from internation­ al suppliers for the delivery of ten cargoes for next months of July, August and Septem­ber. PLL has invited bids for the supply of two LNG Car­goes in July, five for the month of August and three for the months of September have been invited. The July tenders are for the supply windows of 25-26 and 30-31 July, the Au­gust Supplies are for 4-5,10-11, 15-16, 20-21 and 30-31 August. Similarly, the Septem­ber deliveries are 9-10,14-15 and 19-20 September. The fi­nal data of submission of bids is July 7, 2022. It is worth to mention here that Pakistan LNG Limited (PLL) had last week scrapped the LNG spot purchase bid of $39.8/mmb­tu it received for the month of July. Pakistan LNG Ltd (PLL) had received poor re­sponse from suppliers and against tenders of four liq­uefied natural gas (LNG) car­goes in July, the state owned company has got only single bid at $39.80/mmbtu. Ear­lier, PLL had procured two LNG cargoes for the month of May at $29.6700/mmbtu and $24.1500/mmbtu. Start­ing from July, Pakistan will re­ceive one additional LNG car­go from its new long term contract with Qatar. Current­ly Pakistan has two long term contracts for LNG supply with Qatar and procuring seven cargoes from both govern­ment to government agree­ments every month.

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