HomeWorldPower-stricken Pakistan seeks 72 LNG cargoes for six years - Markets IV...

Power-stricken Pakistan seeks 72 LNG cargoes for six years – Markets IV News

To meet the country’s growing energy needs, Pakistan LNG Limited (PLL), a wholly owned subsidiary of Government Holdings Private Limited (GHPL), invited bids for 72 Liquefied Natural Gas (LNG) cargoes from international suppliers in a span of one period. are of. six years old.

Suppliers are asked to submit bids by September 14, while bids are invited from reputed companies to ship the cargo on a Deliver Ex-Ship basis (DES) at Port Qasim, Karachi, PLL said.

“Bid documents will be available from 10 August 2022 to 13 September 2022,” it said.

The documents show that the company is requisitioning one cargo per month for a period of six years.

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Each cargo should have a sizeable volume of 140,000m3, added PLL, which has been mandated by the government of Pakistan to import, procure, store, supply, distribute, transport, transmit, processing, measure, metering and trading. The sale of natural gas, LNG and re-gasified LNG.

In this capacity, PLL procures LNG from international markets and enters into onward arrangements to supply gas to end users, thereby managing the entire supply chain of LNG from procurement to end users.

Last month, PLL had invited bids for 10 LNG cargoes from international suppliers during the July-August-September window.

The suppliers were asked to submit the bids by July 7. According to PLL documents, each cargo volume should be 140,000m3.

However, in an unusual development, the state-owned LNG buyer did not receive a single offer in the $1 billion LNG purchase tender. bloomberg, citing traders with knowledge of the matter. The report then said, “This reflects both the global fuel shortage and the reluctance of suppliers to sell to a country in the depths of the economic crisis.”

PLL did not receive any bids for import of 10 LNG cargoes

In June, PLL disqualified two bids received for a tender seeking a spot cargo of liquefied natural gas (LNG) for delivery in early July for technical reasons.

Subsequently, an offer from TotalEnergies was disqualified because it did not submit a bid bond and the ENOC Singapore bid was disqualified because it did not provide “proof of delivery of eight LNG cargoes”, PLL said in documents on its website.

The prices of energy commodities, including LNG, have skyrocketed amid supply-chain disruptions globally due to the Russo-Ukraine war.

Pakistan, on the other hand, is particularly grappling with fuel shortages in its power sector, as power consumption increases during the summer months, leading to power shortages across the country.

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