Pakistan Rejects Expensive LNG Cargoes

Pakistan has rejected two spot liquefied natural gas (LNG) cargo offers for December 2026 and January 2027 after suppliers quoted rates of up to $31 per million British thermal units (MMBtu), prompting the state owned Pakistan LNG Limited (PLL) to turn down the bids.

Key points

• Pakistan Can Save $124 Billion in Imported Fuel Costs By Switching to Solar.
• For the January 2027 delivery window, TotalEnergies submitted the lowest evaluated bid at $27.10 per MMBtu, equivalent to Rs.
• Federal Petroleum Minister Ali Pervaiz Malik arrived in Qatar on Tuesday with a high level delegation comprising the Petroleum Secretary and other senior authorities.
• PLL initially issued the tender on November 4, seeking two spot LNG cargoes of 140, 000 cubic meters each for delivery at Port Qasim.
• The firm received two offers for the December delivery window on Tuesday.

In practice, the firm received two offers for the December delivery window on Tuesday. While QatarEnergy Trading LLC offered $31 per MMBtu, totalEnergies Gas & Power Limited quoted $27.30 per MMBtu. TotalEnergies emerged as the lowest evaluated bidder. Nevertheless, PLL declined the offers.

For the January 2027 delivery window, TotalEnergies submitted the lowest evaluated bid at $27.10 per MMBtu, equivalent to Rs. 24.2816 billion for the cargo. This offer was additionally rejected. Pakistan Spends Almost Nothing on Renewable Energy. Pakistan Seeks Extra LNG Supplies From Qatar.

Meanwhile, Pakistan has stepped up efforts to secure discounted LNG supplies from Qatar through its existing long term contracts as winter demand approaches and disruptions in the Strait of Hormuz threaten international energy supply chains.

He met Qatar's Minister of State for Energy Affairs, Saad Sherida Al-Kaabi, to discuss maximizing LNG deliveries under Pakistan's two existing long term supply agreements, according to Petroleum Division sources and updates shared on the minister's official X account.

Pakistan Can Save $124 Billion in Imported Fuel Costs By Switching to Solar. PLL Extends LNG Tender Deadline.

PLL initially issued the tender on November 4, seeking two spot LNG cargoes of 140, 000 cubic meters each for delivery at Port Qasim. The original deadline for submitting bids was November 6, but the firm extended it to November 10 after requests from potential international suppliers.

Notably, the high rates offered in the tender come against the backdrop of volatile global spot market conditions, adding pressure on Pakistan's efforts to secure extra supplies ahead of the winter season. Stay Connected with ProPakistani.

Obtain the latest business news, market insights, and economic updates wherever you prefer. Follow on Google Discover. Follow on Google News Join WhatsApp. See more ProPakistani stories in Google Search and Top Stories.

In short, pakistan Rejects Expensive LNG Cargoes is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.