Pakistan LNG Invites Bids for 8 Cargoes at Fixed Dollar Price - Android

Pakistan has sought eight import cargoes of Liquefied Natural Gas (LNG) at a fixed dollar price and a tight tendering… Read More

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Pakistan has sought eight import cargoes of Liquefied Natural Gas (LNG) at a fixed dollar price and a tight tendering scheduled for delivery between 30 April and 28 June.

Pakistan LNG Ltd (PLL) has invited bids for the delivery of eight cargoes in May and June, by the deadline of 30 March. One of the cargoes is to be delivered on 30 April, followed by four weekly cargoes in May and three in June.

PLL also announced on its website that the bidding process has been reformed, and has asked bidders to offer their bids at a fixed dollar price instead of a slope linked to the Brent crude price. It read: “Bidders are requested to review the Bid Document carefully as some key reforms in the process have been implemented”.

Except for some emergency tenders that PLL had issued a few months ago, the company has always sought bids as a percentage of the Brent crude price.

The Federal Cabinet had granted PLL permission in February to relax the period between the announcement of the evaluation report and the awarding of tenders for spot cargoes.

According to a statement by PLL, “[It] will evaluate each commercial offer based on the lowest Contract Price (CP ) in US$/mmBtu offered by any compliant bidder for that LNG cargo”.

Pakistan’s government had come under pressure for its rigid LNG procurement rules, such as long tendering time-lines and out-of-date pricing structures, which forced it to sometimes buying cargoes at higher rates.

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