Pakistan secures 3 bids for spot LNG cargoes

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ISLAMABAD: After a gap of 28 months, state-run Pakistan LNG Limited (PLL) on Friday secured three bids at $17.997 to $18.88 per million British thermal units (mmBtu) for delivery between April 27 and May 8.

A total of four bids were received and three were declared the lowest.

For the first delivery window of April 27-30, TotalEnergies 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 declared the lowest bidder at $17.997 per mmBtu for delivery between May 8 and 14.

A day earlier, PLL had floated urgent tenders for the import of three LNG cargos for delivery between April 27 and May 8 amid rising temperatures and power shortfall.