Pakistan receives costly bids for December, January LNG cargoes
Pakistan LNG Limited opened three bids from international companies for two spot LNG cargoes. The offers range from Rs24.28 billion to Rs27.77 billion per cargo.
For information only, not investment advice. Prices change quickly: check the time and source of every figure.
- Three bids received for December and January spot LNG cargoes
- Lowest offers are $27.27 and $27.01 per MMBTU
- Reports differ on whether the bids were rejected or sent to the PLL board
Pakistan LNG Limited (PLL) has opened the bids it received from international companies for liquefied natural gas supplies in December and January, according to Daily Jang and 24 News. Three bids came in for the two spot cargoes the company had sought.
Two bids were received for the December cargo. The lower was Rs24.43 billion, which works out to $27.27 per MMBTU. The higher was Rs27.77 billion, or $31 per MMBTU. Daily Jang gave the December delivery window as December 14 to 26, while 24 News and Minute Mirror said December 14 to 16.
Only one bid was received for the January cargo, for delivery between January 9 and 11. It was Rs24.28 billion, equal to $27.01 per MMBTU, according to the reports.
Sources told Daily Jang and 24 News that the lowest bids will be presented to the PLL board. Daily Pakistan, citing officials, reported that the two lowest bids, between Rs24.28 billion and Rs24.43 billion, had been sent to the board, which will decide whether to approve or reject them. 24 News said the final decision would be taken after the board reviews the offers.
Minute Mirror reported a different outcome. It said Pakistan had rejected the bids because the quoted prices exceeded the country's acceptable purchasing levels, citing PLL documents. The reports do not settle this difference, and no official statement was cited.
24 News described the offers as expensive, noting that Pakistan depends on imported gas to meet part of its energy needs. Daily Pakistan also called the bids very expensive. PLL had invited offers for the two spot cargoes to meet gas requirements in the two months.
Background
khabr.pk reported on 10 November that the government collected Rs220 billion in petroleum levy in the first two months of FY27. Our figures show petrol at Rs338 per litre and the interbank dollar at Rs276.65 on 10 November.
Why it matters for Pakistan
Winter gas supply to households and power plants depends on LNG cargoes such as these. The bids of Rs24.28 billion to Rs27.77 billion per cargo show what imported gas for December and January may cost. The PLL board's decision on the lowest offers will determine whether the cargoes are secured at these prices.
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