KARACHI: Pakistan LNG Limited (PLL) has received several bids for the supply of spot Liquefied Natural Gas (LNG) cargoes, as the country moves to secure energy supplies for the month of May. According to sources cited by Express News, a total of six international companies participated in the bidding process. The lowest bid for the delivery window of May 24-26 was submitted by TotalEnergies Gas & Power, priced at $16.98 per MMBtu.
Bid Details and Price Trends For the mid-month delivery window of May 12-14, PLL received a bid of $17.28 per MMBtu. It is worth noting that earlier bids for the first half of May (May 1-7 and May 8-14) were rejected by the authorities, as those prices were significantly higher at $18.5 and $17.99 per MMBtu respectively.
Final Approval Process The PLL Board had previously authorized the purchase of spot LNG cargoes to meet domestic energy demand. While the bids have been opened, the final decision on whether to accept these offers and award the contracts will be made by the PLL Board in its upcoming meeting. This move comes as Pakistan manages its energy imports amidst fluctuating global prices to ensure a steady supply for the national grid.
