Pakistan LNG Ltd (PLL), the state-owned company that procures liquefied natural gas (LNG) from the international market, has received bids from four companies for a cargo of LNG for delivery in January 2023.
According to a notice from PLL, the bids came from OQ Trading, QatarEnergy Trading, Trafigura, and Vitol. The company was seeking the cargo for delivery to Port Qasim, Karachi, from January 8 to 9.
The tender was issued on Monday, November 24, 2023, amid rising gas demand in Pakistan, which depends on gas for power generation.
The country has struggled to secure spot cargoes of LNG after global prices spiked last year following Russia’s invasion of Ukraine, leaving it to face widespread power outages.
Pakistan has two long-term supply deals with Qatar, one signed in 2016 for 3.75 million metric tons of LNG a year, and another signed in 2021 for 3 million metric tons a year.
The South Asian nation also has an annual portfolio contract with ENI for 0.75 million metric tons a year.
Back in September, PLL issued a tender seeking two LNG cargoes for the month of December. PLL awarded the tender to commodities trader Vitol.
In June, PLL failed to secure offers for six cargoes on a DES basis for October and December delivery to Port Qasim.
