ISLAMABAD: Vitol on Friday offered Pakistan LNG Ltd (PLL) a spot cargo sought for a May 17-18 delivery window at $23.13 per mmBtu, bid documents showed, as Pakistan continued to seek fuel to meet rising local power demands as summer approaches.

Last week PLL picked up four of seven spot cargoes sought for May and June through tenders, but it did not finalise a cargo for the May 17-18 window, which returned a lowest offer of $31.77 per mmBtu from Vitol, an industry source said.

PLL released a fresh tender this week for the May 17-18 window, attracting three offers: Total Energies at $25.2 per mmBtu, PetroChina International at $25.23 per mmBtu and Vitol Bahrain at $23.1297 per mmBtu, bid documents on PLL’s website showed.

PLL is a public sector entity with a mandate from the government to procure LNG from international markets and manage the supply chain from procurement onwards.

Pakistan has experienced a rise in LNG consumption in recent years, particularly in its power sector as it looks to move away from oil.

Recently, however, the nation of 220 million people has again increased oil consumption after suppliers on long-term contracts have cancelled cargoes in an unstable LNG market.

Published in Dawn, April 30th, 2022

Opinion

Editorial

Sindh LG poll mess
Updated 28 Jun, 2022

Sindh LG poll mess

The ECP and the Sindh government share the blame for the electoral mismanagement witnessed on Sunday.
State apathy
28 Jun, 2022

State apathy

The minister would do well to revisit his stance before further damage is done to the fight for civil rights.
Lofty but fragile
28 Jun, 2022

Lofty but fragile

PAKISTAN is set for its busiest mountaineering season in over a decade, with over 1,400 climbers from across the...
LNG crisis
Updated 27 Jun, 2022

LNG crisis

Global LNG shortages have sent the fuel’s price spiralling to record highs.
Bloc politics
27 Jun, 2022

Bloc politics

USING the platform of the 14th BRICS Summit, Chinese President Xi Jinping has made some interesting observations...
KCR dream
27 Jun, 2022

KCR dream

RAILWAYS Minister Saad Rafique has basically clarified what many a commuter in Karachi has known for long: true and...