Energy trader Vitol has submitted the lowest bid in a tender to supply Pakistan with two LNG cargoes in April.
The state-owned Pakistan LNG launched the tender in late December with the delivery windows from April 5-6 and April 18-20.
Four companies took part in the tender including Vitol Bahrain, QP Trading, PetroChina, and Posco, Pakistan LNG’s evaluation report dated February 4 shows.
The report shows that Vitol submitted the most competitive bid at 11.0522 percent of Brent for the first window.
Furthermore, Vitol offered a slope rate of 10.8933% for the second window.
Pakistan has been steadily increasing its LNG imports over the years and the country plans to build several more terminals to cope with gas shortages for power generation.
The Port Qasim currently hosts two LNG import facilities both utilizing floating storage and regasification units.
The country’s first terminal started operations back in 2015 utilizing Exclerate’s FSRU while the second floating LNG import facility uses FSRU BW integrity.