The state-run Pakistan LNG Limited (PLL) on Thursday floated urgent tenders to import three LNG cargoes for delivery between April 27 and May 8 amid rising temperatures and a power shortfall.
PLL has set April 24 (Friday) as the deadline for bids, which will be opened the same day, given the urgent need to meet power demand that fell short by more than 4,500MW at peak, resulting in six to seven hours of loadshedding.
The tender was issued following Qatar’s reluctance to dispatch LNG cargoes stranded in the Gulf due to the closure of the Strait of Hormuz.
The bids have been invited for three cargoes for April and May. The first cargo will be supplied from April 27 to 30. The second cargo will be supplied from May 1 to 7 and the third cargo will be supplied from May 8 to 14.
Three LNG cargoes meant for Pakistan had earlier returned from Hormuz for security reasons. All three tenders are for cargoes of 140,000 cubic metres each, to be delivered on a delivered ex-ship (DES) basis. Each cargo typically supplies around 100 million cubic feet per day (mmcfd) to Pakistan.
Last month, the Oil and Gas Regulatory Authority (Ogra) notified a massive 19–22 per cent increase in the price of regasified liquefied natural gas (RLNG) to $12.50–$14 per million British thermal units for sale at the distribution stage by the two Sui gas companies for March.
LNG imports stopped early last month after the closure of the Strait of Hormuz following US-Israeli attacks on Iran, which, in retaliation, targeted fuel installations in neighbouring countries, including Qatar, Saudi Arabia, the UAE and Kuwait, among others.
