Pakistan LNG Limited (PLL), a government subsidiary that procures LNG from the international market, has not received offers for six cargoes on a delivered-ex-ship (DES) basis for October and December delivery to Port Qasim, reported Bloomberg, citing traders with knowledge of the matter.
Last week, Pakistan issued two tenders, seeking spot LNG cargoes.
As per the PLL website, the company, in the first tender, sought six cargoes of 140,000-meter cube of LNG per cargo on a DES basis at Port Qasim in Karachi for October and December.
The delivery windows were October 5-6, 20-21 and 31, and December 7-8, 13-14 and 24-25.
The tender closed on June 20 (today).
PLL has also advertised a second tender seeking three cargoes, also on DES basis at Port Qasim, for January and February.
The second tender has delivery windows of January 3-4, 28-29 and February 23-24, and closes on July 14.
PLL has been mandated by the Government of Pakistan to carry out the business of importing, buying, storing, supplying, distributing, transporting, transmitting, processing, measuring, metering and selling of natural gas, LNG and re-gasified LNG.
In this capacity, PLL procures LNG from international markets and enters into onward arrangements for the supply of gas to end users, thereby managing the whole supply chain of LNG from procurement to end users.
Dependent on gas for power generation, the country has struggled to procure spot cargoes of LNG after global prices elevated last year following Russia’s invasion of Ukraine.
Pakistan imported 9 billion cubic metres (bcm) of LNG last year, according to Refinitiv data, down nearly 20% from 11.2 bcm in 2021.
The South Asian country has two long-term supply deals with Qatar, one signed in 2016 for 3.75 million metric tons of LNG a year, and another signed in 2021 for 3 million metric tons a year.
It also has an annual portfolio contract with ENI for 0.75 million metric tons a year.
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