Govt received seven bids for cargoes scheduled for delivery between May 12-14 and May 24-26, say sources
\n islamabad
\nPakistan has rejected bids for spot liquefied natural gas (LNG) cargoes for May as the country faces growing uncertainty over energy shipments, sources in the Ministry of Energy said on Friday.
\nThe bids were invited by Pakistan LNG Limited (PLNG) for the purchase of two spot LNG cargoes scheduled for delivery between May 12-14 and May 24-26.
\nAccording to sources, seven bids were received for the two cargoes. The lowest bid for the May 12-14 delivery window stood at $17.28 per mmbtu.
\nFor the May 24-26 delivery window, the lowest offer came in at $16.98 per mmbtu, the sources said. However, both the lowest bids for spot LNG supply were rejected by the Pakistan LNG Board, according to Ministry of Energy sources.
\nThe sources further said that earlier bids for the procurement of two spot LNG cargoes for May had also been rejected.
\nThe country rejected the offers as there are indications that it may be able to secure LNG supplies from Qatar under long-term contractual arrangements at significantly lower prices, according to a report by The News.
\nCiting officials familiar with the development, The News reported that the decision appeared linked to positive signals from Qatar regarding the availability of two LNG cargoes that could be routed through the Strait of Hormuz.
\nThe sources said Qatar had earlier shown reluctance in supplying additional LNG cargoes to Pakistan due to fears surrounding regional security risks and potential disruption to shipping routes in the Strait of Hormuz, according to the report.
\nHowever, recent geopolitical developments and Pakistan\u2019s evolving diplomatic role in the region are believed to have improved confidence regarding LNG transportation, it said.
\nPakistan last received an LNG cargo on April 30, providing a much-needed boost to the country\u2019s energy sector.
\nLNG carrier Seapeak Magellan docked at the Pakistan GasPort terminal on April 30 and started feeding re-gasified LNG (RLNG) into the national network, according to The News.
\nThe cargo \u2014 arranged by TotalEnergies at a price of $18.40 per mmbtu \u2014 marked the first LNG shipment to reach the country since a US-origin cargo arrived weeks earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"
Govt received seven bids for cargoes scheduled for delivery between May 12-14 and May 24-26, say sources islamabad Pakistan has rejected bids for spot liquefied natural gas (LNG) cargoes for May as the country faces growing uncertainty over energy shipments, sources in the Ministry of Energy said on Friday. The bids were invited by Pakistan […]<\/p>\n","protected":false},"author":2,"featured_media":545463,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-545437","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n