Pakistan has received bids for two cargoes of liquefied natural gas (LNG) of 140,000 meters each from multinational commodity trading company Gunvor Singapore, a national daily reported.
In response to an international tender issued by the state-owned Pakistan LNG Limited (PLL) in September, Gunvor Singapore placed the lowest bids at 14.2277 percent for 8-9 November and at 13.8377 percent for 18-19 November.
PLL resumed spot buying of LNG after a six-month pause in July as energy demand is ramping up with easing lockdown.
PLL had sought tenders from foreign suppliers to supply three cargoes of approximately 420,000 cubic meters of LNG for November. The company invited bids from international suppliers for the supply of three LNG cargoes on delivered ex-ship basis at Port Qasim. A cargo of 140,000 cubic meters each is required to be delivered on November 8-9, November 15-16, and November 18-19.
Other bids received for the same tender for 8-9 November window were Trafiguara at 14.3338 percent and PetroChina International at 15.3152 percent. For the 18-19 November tender, DXT Trading Company bid at 14.4610 percent, Trafiguara PTE at 14.3338 percent and POSCO International at 16.0444 percent.
PLL procures LNG from international markets and enters into onward arrangements for the supply of gas to the end-users, effectively managing the entire LNG supply chain from procurement to end-user gas sale agreements.