Pakistan LNG scraps another tender

State-owned Pakistan LNG has scrapped another tender after one bidder did not meet the technical requirements.

Pakistan LNG launched the tender on June 7 for one spot LNG delivery during July 3-4. Deadline for submissions was June 10.

The firm said in a report posted on its website that it had disqualified an offer from Aramco Trading Singapore as the latter “has made changes in the confirmation notice”.

Pakistan LNG did not provide any additional information.

Prior to this tender, the firm rejected offers from TotalEnergies Gas and Power and ENOC Singapore for the same delivery window.

Pakistan LNG issued several tenders this year as the country looks to secure much-needed supply to fuel its power plants. However, the spot prices remain very high.

The JKM LNG price for July settled at $23.035 on Monday.

Prior to these tenders, a unit of PetroChina submitted the lowest bids in a tender to supply Pakistan with two spot LNG shipments in June.

The firm offered a price of $23.968/MMBtu for the first shipment and $22.498/MMBtu for the second shipment.

Reuters said in a report last week, citing Finance Minister Miftah Ismail, that Pakistan would seek a deferred payment plan for LNG bought under long-term deals with Qatar, as the country faces a balance of payments crisis and falling foreign exchange reserves.

According to the news agency, Ismail also said that Pakistan was in talks with Qatar about a new five- or 10-year LNG supply deal for three monthly cargoes, as well as an additional cargo under an existing deal.

GIIGNL data shows that Pakistan imported 8.9 million tons of LNG last year, up by 10.5 percent. The majority of these supplies came from Qatar as part of long-term deals.

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