Two private companies win above $ 7 billion LNG supply bids

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Two private international firms have won financial bids worth above $7 billion for supplying 240 shipments of LNG (liquefied natural gas) to the country at cheaper rates if compare with rates of fixed deal between Qatar and Pakistan.

The PLL opened the two financial bids worth over $7 billion for the supply of 240 shipments of LNG (liquefied natural gas). They said two private companies named as Gunvor and ENI found successful bidders as they offered the lowest bids. They said Gunvor will supply LNG for five years and ENI to supply LNG for 15 years. “Hopefully, successful bidders will start LNG supply will from June or July 2017, with a nominal cargo capacity set at 140,000-cbm (billion cubic meters),” sources said.

Minister for Petroleum and Natural Resources Shahihd Khaqqan Abbasi has confirmed the information that Gunvor won one bid to be effective for five years while ENI being lowest bidder won second which will be effective for 15 years.

The minister said that Gunvor will supply LNG at 11.647percent of Brent oil rate, while ENI will supply the LNG at 12.29pc of Brent oil price.

It is to note here that Pakistan Today on January 19 claimed that Gunvor is likely to win one bid and it has offered low price for the supply of LNG, which Pakistan has already been receiving from Qatar.

Earlier, the PLL on Dec 20 opened the technical bidding of two tenders issued last month for the supply of 200million cubic feet per day of LNG to the country; in response, a total of 14 LNG suppliers submitted their bids.

Pakistan LNG Limited fixed January 19 for the opening of two financial bids worth above $7 billion for the supply of 200mmcfd (249 cargoes) of LNG to the country.

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