November 27, 2023 (MLN): In a strategic move to address the looming fuel deficit during the winter season, Pakistan has finally bought a liquefied natural gas (LNG) shipment scheduled for January, as Bloomberg reported.

The transaction was carried out by the state-run Pakistan LNG Ltd., sealing the deal with Oman's OQ Trading, it said.

Traders, well-versed with the specifics, informed that the LNG purchase was made at a price premium compared to the prevailing spot market rates.

On November 20, PLL floated a tender to import LNG, aiming to import a single cargo within the window of January 8-9 and the bids were set to open on November 24.

In October two cargoes were finalised to be imported in the December 7-8 window and 13-14 window.

PLL had invited bids for these two LNG cargoes on September 27, with the deadline for submissions set for October 04.

Copyright Mettis Link News

Posted on: 2023-11-27T14:18:21+05:00