ISLAMABAD: The Pakistan LNG Limited (PLL) has invited bids from international suppliers for the supply of nine LNG cargoes of 140,000 cubic meters each on a delivered ex-ship (DES) basis at Port Qasim, Karachi.

With relaxed procurement rules, the PLL sought nine import cargoes at fixed dollar price and tendering schedule for deliveries are from July 08 to August 28.

The last date for bidding has been set at June 2nd.

The PLL has shown its intent to purchase LNG cargoes for the month of July and August. Four cargoes will be required for July and five cargoes are for August.

The first LNG cargo will be delivered on 8-9 July, second on 12-13 July, third on 17-18 July, fourth on 28-29 July, fifth on 02-03 August, sixth on 7-8 August, seventh on 12-13 August, eighth on 17-18 August, while the ninth cargo will be delivered on 27-28 August on a delivered ex-ship basis, according to the PLL.

The PLL received 42 bids from a record 12 international traders for the eight LNG cargo deliveries between April 30 and June 28.

These LNG importers had sought open tender in fixed dollar rate instead of pattern of inviting bids in Brent Crude slope.

The federal cabinet had already granted partial exemption to the PLL from Rule-35 of the Public Procurement Regulatory Authority (PPRA) rules by relaxing the period between announcement of evaluation report and award of tenders for spot cargoes.

More than half of Pakistan’s total LNG imports are based on long-term contracts, while the remaining needs are met through spot tenders.

Copyright Business Recorder, 2021