SOCAR to deliver LNG to Pakistan at lowest price

The Pakistani government has developed a plan to overcome the natural gas crisis, said Special Assistant to the Prime Minister on Petroleum, Nadeem Babar.

In this regard, Pakistan has already applied for importing LNG cargo for February next year, and the winners have been determined.

Pakistan LNG Limited (PLL) obtained the lowest bids for February 15-16 and February 23-24, 2021, at 20.8483-23.4331% of Brent.

PLL had sought bids for two LNG cargoes, and it secured five offers from LNG trading companies. The remaining four LNG trading companies that qualified for the bids included SOCAR, Trafigura, GUNVOR, and ENOC.

LNG trading company SOCAR gave the lowest bid for February 15-16 for $10.5 per million British thermal units (mmbtu), while ENOC appeared with the lowest bid for February 23-24 for $11.70 per mmbtu.

GUNVOR - 25.5666% of Brent for February 15-16 and 23.5666% of Brent for February 23-24

ECNOC - no bid submitted for February 15-16. For February 23-24, it offered a proposal at 20.8483% of Brent.

Another supplier was Trafigura - two bids submitted for two-time slots with the highest prices. It deposited its bid at 32.4888% of Brent for February 15-16 and 25.9777% of Brent for February 23-24, 2021.