Pakistan LNG Limited (PLL) is looking to buy 10 shipments of liquified natural gas (LNG) for delivery in the July-September period.
The government-owned PLL solicited bids from reputable international suppliers for the supply of 10 LNG cargoes at Port Qasim, Karachi, on a Delivered Ex-Ship (DES) basis, with a quantity of 140.000 m3 per cargo.
This is one of Pakistan’s biggest LNG purchase tenders and would likely cost almost $1 billion per the current exorbitant rates in the spot market. Acquiring such quantities of LNG is crucial for the country to avoid blackouts and generate energy.
The advertised tender states the delivery window of each of the 10 cargoes respectively from July 25-26, July 30-31, August 04-05, 2022, August 10-11, 2022, August 15-16, 2022, August 20-21, 2022, August 30-31, 2022, September 09-10, 2022, September 14-15, 2022, and September 19-20, 2022.
PLL, which is responsible for acquiring LNG to fulfill the country’s gas demands, has given prospective bidders until July 7, 2022, to submit their offers.
The country has rolled out a new import tender in an effort to source LNG as the European Union (EU) countries’ excessive buying has left the market with little supply.
This is PLL’s fourth unsuccessful attempt to secure LNG cargoes in the incredibly volatile spot market. The previous three tenders, which were released on May 31, June 7, and June 16, failed to attract any reasonable bids.
