Pakistan Receives Bids As It Seeks LNG For May-June

ISLAMABAD: Pakistan LNG Limited (PLL) on Thursday received bids for six of seven spot cargoes of liquefied natural gas (LNG) it is seeking for delivery in May and June, an industry source said.

Total quoted the lowest bid for a cargo requested for May 1-2 delivery at $29.67/mmbtu. The cargo was sought on an urgent basis after an earlier committed cargo was cancelled on Wednesday.

Pakistan, which has increased its dependence on LNG in recent years, issued a separate tender for six deliveries in May and June earlier this month.

Qatar Energy quoted the lowest bid for May 12-13 delivery at $25.15/mmbtu and for the June 6-7 delivery at $27.65/mmbtu.

Total quoted the lowest bids for the May 17-18, May 27-28 and June 16-17 deliveries at $31.77/mmbtu, $26.87/mmbtu and $29.04/mmbtu.

There was no bid for delivery for the June 1-2 window.