PLL buys first spot LNG cargo in over a year
By MG News | Category Economy | October 05, 2023 at 10:54 AM GMT+05:00
October 05, 2023 (MLN): Pakistan LNG Ltd. (PLL), the state-owned company responsible for procuring Liquefied Natural Gas (LNG) and supplying Natural Gas to Pakistan, has made its first spot market LNG purchase in over a year.
This decision will alleviate the winter energy shortage that Pakistan is currently facing.
PLL has procured a single LNG cargo at $15.97/mmbtu from Vitol supply for delivery in December.
Meanwhile, PLL rejected bids offered by Singapore-based Commodity Multinational, Trafigura, as it was priced at $19.39/ MMBtu, which is a premium of approximately 37% over the spot market rates.
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