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State-owned Pakistan LNG launched this tender on Tuesday seeking one 140,000 cbm cargo on a delivered ex-ship (DES) basis with the delivery window scheduled for July 21-22
Two companies took part in the tender, including BP Singapore and PetroChina International, Pakistan LNG’s evaluation report published on Wednesday shows.
PetroChina International submitted the most competitive bid, offering a price of $20.6999/MMBtu, according to the document.
BP Singapore offered $21.3737/MMBtu.
Pakistan LNG did not say whether it will accept the PetroChina offer.
Local media reports suggest that the company has accepted the price due to the urgency to meet the country’s power demands.
The PetroChina bid is the highest price Pakistan LNG would pay for a spot cargo this year.
Last week, BP Singapore submitted the lowest bid in a tender to supply Pakistan with one spot LNG shipment on July 15-16.
BP Singapore offered a price of $18.2345/MMBtu.
Earlier this month, a unit of French energy giant TotalEnergies submitted the lowest bid in a tender to supply Pakistan with one spot LNG shipment on July 10-11.
TotalEnergies Gas and Power offered a price of $17.3700/MMBtu.
Before this tender, BP Singapore submitted the lowest bid in a tender to supply Pakistan with one spot LNG shipment during June 30-July 4.
BP Singapore offered a price of $16.7372/MMBtu.
This new tender follows a projectile attack on Nakilat’s Q-Flex LNG carrier Al Rekayyat while transiting the Strait of Hormuz on July 7 and new strikes exchanged between the US and Iran in the last five days.
Pakistan gets most of its supplies under long-term contracts from Qatar.
In May, Pakistan received three LNG cargoes from Qatar via the Strait of Hormuz, the first time since the start of the Middle East conflict.
According to Kpler data, no LNG carriers have transited the Strait of Hormuz since July 11, as the security situation around the strategic waterway continues to deteriorate following Iranian attacks on commercial vessels and subsequent military exchanges between Iran and the US.
