ISLAMABAD: The OQT LNG trader has quoted the lowest bid of $18.4600 per mmbtu for one spot cargo for January 2024 in response to the tender given by Pakistan LNG Limited (PLL) on November 20, 2023.
Four tenders received from LNG international traders- Vital, Trafigura, Qatar Energy, and OQT for the delivery windows of January 8-9. Trafigura quoted maximum price of $19.6400 per mmbtu, Qatar Energy $19.4300 per mmbtu, Vitol $18.5800 per mmbtu, and OQT $18.4600 per mmbtu.
The PLL a government subsidiary has issued a tender seeking a spot LNG cargo from the international trading company to meet the gas deficit during January.
Pakistan LNG gets bids from OQ Trading, others for Jan import tender
The interested parties have been given four days (November 20-24) to show their interest for one cargo on a delivered-ex-ship (DES) basis to Port Qasim in Karachi in January.
The tender is exempted from response time and bid validity time under the PPRA rule.
In the past, the government usually arranged 12 cargoes each month in the winter season. However, the Russia-Ukraine war and the advance procurement of LNG from international companies by the EU countries raised the price of imported LNG.
The country is already facing an estimated gas shortfall of 360 mmcfd in December 2023 and projected to escalate to 470 mmcfd in January 2024.A distressed LNG cargo from SOCAR, a state-owned company of Azerbaijan, may be available in January.
In November 2023, the average price of RLNG to the consumers has been determined at $13.4 per mmbtu for SNGPL and $14.0337 for SSGC consumers.
Copyright Business Recorder, 2023
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