Govt buys priciest four LNG cargoes since 2015

July 30, 2021 (MLN): The government has purchased four liquefied natural gas (LNG) cargoes for September delivery at the highest-ever rates at more than $15 per million British thermal units, the highest since the country began LNG imports in 2015.

According to the sources, the State-owned Pakistan LNG Limited (PLL) first canceled tenders for eight cargoes for September and October, reasoning that the price was higher at $13.78 per mmBtu, but now it has bought four cargoes at prices higher than ever to mitigate load shedding.

Gunvor will deliver the three cargoes: the first during September 6-7 at the rate of $15.397 per mmBtu, the second cargo on September 12-13 at $15.497 per mmBtu while the third one on September 17-18 at the price of $15.397 per mmBtu.

PetroChina will provide LNG cargo on September 27-28 at $15.199 per mmBtu. These cargoes will be delivered between September 6 to September 28.

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