PLL finalises bids for 8 LNG cargoes

KARACHI: Pakistan LNG Limited (PLL) has finalised lowest bids ranging from $6.7/mmbtu to $6.925/mmbtu for eight LNG cargoes to be delivered during April to June 2021, a statement said on Tuesday.

It was the first time PLL invited bids on fixed dollar rates instead of percentage of Brent, as was the practice.

PLL had received a total of 42 bids for the advertised seven deliveries, it said.

“Eni SpA will deliver one consignment on April 30, another consignment on May 26-27 and one more on June 18-19, 2021 at the rate of $6.7/mmbtu,” the PLL said in its statement.

It added that QP Trading would make two deliveries, first on May 11-12 at the rate of $6.825/mmbtu and the other on May 16-17, 2021 at the rate of $6.925/mmbtu.

“Vitol Bahrain will make a delivery on May 31, 2021 at the rate of $6.7832/mmbtu, while PetroChina will make two deliveries, one on June 08-09 at $6.835/mmbtu and second on June 27-28, 2021 at the rate of $6.885/mmbtu,” the PLL said.

The average LNG price for May delivery into Northeast Asia LNG-AS was estimated at about $6.55/mmbtu and $5.7/mmbtu for April deliveries.