Islamabad: Pakistan LNG Limited (PLL) has issued a tender for the third time for the purchase of liquefied natural gas (LNG) cargo for September, through which bids have been invited from global suppliers for the supply of a new cargo.
According to sources, the new tender issued by PLL requires delivery of LNG cargo between September 12 and 16. Suppliers present in the global market will be able to submit their offers under this tender.
According to the tender documents, the last date for submission of bids for the purchase of LNG cargo has been fixed as September 8, while the received bids will also be opened on the same day.
This is the third tender for the purchase of LNG cargo for September. The government has previously tried to buy LNG twice for the September delivery period, but both times the tenders were cancelled due to high bid prices.
The new tender has been issued at a time when Pakistan also depends on imported LNG to meet its energy needs. The purpose of importing LNG is to bridge the gap between gas demand and supply as well as to meet the needs of the energy system.
Fluctuations in LNG prices in the global market directly affect the cost of imported cargo. Therefore, the prices of bids received during the tender play an important role in the overall import cost of LNG and the purchase decision.
According to sources, the aim of PLL’s re-invitation of offers from global suppliers through the new tender is to arrange cargo for the desired delivery period. It will be clear only after the bids are opened on September 8 at what price global suppliers offer to supply LNG and whether a contract for the purchase of the cargo is concluded.
The final decision regarding the purchase of LNG will be made after reviewing the bids received and the relevant commercial terms.
