Pakistan LNG Limited’s board has green-lit the acquisition of one LNG cargo slated for arrival on April 30. The deal was struck in the spot market at $18.88 per MMBtu after a bidding process initiated by PLL.
PLL had opened bids for three LNG cargoes from April 27 to May 14, receiving offers from three suppliers. However, only the bid for the April 27-30 window was approved; bids for the subsequent periods were rejected.
The offer for the May 1-7 window was $18.54 per MMBtu and for the May 8-14 window at $17.99 per MMBtu but both failed to secure approval from the board. This decision reflects PLL’s selective procurement strategy, considering fluctuating global LNG prices and near-term energy needs.
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