PetroChina submits lowest bids in Pakistan LNG tender

A unit of PetroChina has submitted the lowest bids in a tender to supply Pakistan with two spot LNG shipments in June.

State-owned Pakistan LNG launched this tender on April 30 offering two windows and later corrected the second window from June 16-17 to June 28-29.

Three companies took part in the tender, including Vitol Bahrain and TotalEnergies, Pakistan LNG’s evaluation report dated May 11 shows.

PetroChina International Singapore submitted the most competitive bid for the June 1-2 delivery and the June 28-29 delivery.

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

Local media reports suggest that Pakistan LNG has decided to accept these offers.

Pakistan LNG has lately issued several tenders as the country looks to secure much-needed supply to fuel its power plants.

Port Qasim currently hosts two LNG import facilities both utilizing floating storage and regasification units.

However, the country plans to build several more LNG terminals to cope with gas shortages for power generation.

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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