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    Pakistan Saves $30mn on Fresh LNG Tenders

Summary

Pakistan last week scrapped the original tender for the three cargoes for March delivery.

by: Shardul Sharma

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Complimentary, NGW News Alert, Natural Gas & LNG News, Asia/Oceania, Liquefied Natural Gas (LNG), Corporate, Import/Export, Contracts and tenders, News By Country, Pakistan

Pakistan Saves $30mn on Fresh LNG Tenders

State-owned Pakistan LNG (PLL) on January 27 said it saved $30mn through an urgent replacement tender for three LNG cargoes for delivery in March. The company last week scrapped the original tender for the shipments.

Eni and Vitol had put in the lowest bids for the March supply of the cargoes to Pakistan. For the cargo delivery during March 9-10, Eni offered the lowest bid. Vitol offered the lowest bid for cargoes delivered during March 16-17 and March 22-23. The local media reported that the decision to scrap the tender was taken in light of a drop in global spot LNG prices. 

“PLL issued an urgent tender for similar delivery windows on January 21 with an average of 44 to 57 days from bid opening to delivery. The shorter lead time tender has been awarded saving an estimated $30mn for the three cargoes compared to earlier,” PLL said on Twitter.   

Meanwhile, PLL has invited bids through two separate tenders for the supply of three LNG cargoes in April. It is seeking LNG cargoes for delivery during April 5-6 and April 19-20. The deadline for bids is January 29. The deadline for the tender seeking a single cargo for delivery on April 9-10, is February 18.