ISLAMABAD: State-owned Pakistan LNG Limited (PLL) has considered and declined two spot LNG cargo bid offers scheduled for delivery in December 2026 and January 2027, with offer prices soaring to USD 31 per MMBtu, sources said.
Pakistan has intensified efforts to secure discounted liquefied natural gas (LNG) from Qatar under existing long-term contracts as winter demand looms and ongoing disruptions in the Strait of Hormuz threaten global energy supply chains.
On Tuesday, PLL received two bids for the LNG supply for December. Total Energies Gas & Power Limited quoted a bid offer of USD 27.30 per MMBtu, while Qatar Energy Trading LLC quoted a bid offer of USD 31 per MMBtu. Total Energies Gas & Power Limited was declared the lowest evaluated bidder for the window. For the second cargo for the delivery window of January 2027, Total Energies Gas & Power Limited quoted a bid offer of Rs24,281,600,000 or USD 27.1 per MMBtu and was declared the lowest evaluated bidder.
Federal Petroleum Minister Ali Pervaiz Malik, leading a high-level delegation alongside the Petroleum Secretary and senior officials, arrived in Qatar on Tuesday to hold talks with top energy authorities. Malik met with Qatar’s Minister of State for Energy Affairs, Saad Sherida Al-Kaabi, to negotiate maximising cargo deliveries under Pakistan’s two long-term contracts, according to sources within the Petroleum Division and updates shared on the minister’s official X account.
The diplomatic push coincides with volatile spot market conditions. The tender, initially issued on November 4, sought two spot cargoes of 140,000 cubic meters each for delivery at Port Qasim. Though the original submission deadline was set for November 6, PLL extended it to November 10 following requests from potential international suppliers.
Copyright Business Recorder, 2026
Comments