Pakistan LNG gets single bid from Qatar Energy at $39.80/mmbtu for July cargo

Pakistan LNG gets single bid from Qatar Energy at $39.80/mmbtu for July cargo
Pakistan LNG gets single bid from Qatar Energy at $39.80/mmbtu for July cargo

July 23, 2022: Pakistan LNG Ltd (PLL) received a single bid from Qatar Energy at $39.80/mmbtu for an LNG import tender seeking a cargo in the July 30-31 window, an industry source said on Thursday.

The source said no bids were received for three other deliveries sought in July, which was later confirmed by documents uploaded on PLL’s website.

The source added that PLL had decided not to pick up the costly bid.

A spokesman for Pakistan’s power ministry, under which PLL operates, did not immediately respond to a Reuters request for comment.

Pakistan had sought four cargoes from international suppliers during the windows of July 3-4, 8-9, 25-26 and 30-31.

Pakistan unsuccessfully tapped the spot market earlier this month for an extra July cargo, with two tenders not returning valid bids.

In recent years Pakistan has increased reliance on LNG for electricity generation, but is facing widespread power outages as procurement of the chilled fuel remains unreliable and expensive.

Reuters

Posted on: 2022-06-23T23:21:29+05:00

33673