Pakistan LNG Limited approves spot cargo at $18.88 per MMBtu

The board of Pakistan LNG Limited has approved the purchase of one spot liquefied natural gas (LNG) cargo, scheduled to arrive in Pakistan on April 30, officials said. The cargo was procured from the spot market at a price of $18. 88 per MMBtu, following a bidding process initiated by the company. PLL had invited bids for three LNG cargoes covering delivery windows from April 27 to May 14. In response, the company received three offers from suppliers. Officials said only the bid for the April 27-30 delivery window was accepted, while bids for the subsequent periods were rejected. The offer for the May 1-7 window stood at $18. 54 per MMBtu, and for the May 8-14 window at $17. 99 per MMBtu, but both were not approved by the board. The decision indicates a selective procurement strategy by PLL amid fluctuating global LNG prices and demand considerations, with the approved cargo aimed at meeting near-term energy requirements.

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