Pakistan Gets Highest-Ever Bid for LNG Cargo

Pakistan LNG Ltd (PLL) has received a single bid from Qatar Energy at $39.80/mmbtu for a liquefied natural gas (LNG) import tender, Reuters reported on Thursday.

The country had sought four cargoes from international suppliers during the windows of July 3-4, 8-9, 25-26, and 30-31, but no bids were received for three other deliveries.

Earlier in the month, PLL had disqualified two bids it received for a tender seeking one spot cargo of LNG for delivery in early July for technical reasons.

Pakistan LNG Limited (PLL) had recently awarded a tender to PetroChina for the delivery of two LNG spot cargoes in June. After careful consideration, PetroChina's bid of $23.96/mmbtu for June 1-2 delivery and $22.49/mmBtu for June 28-29 delivery was deemed the most favorable.

This decision was made in light of Qatar Petroleum's offer of $30.65/mmbtu last year, which was needed to avert a potential gas crisis in winter.