ISLAMABAD: Pakistan has imported the most expensive cargo of LNG, anticipating a possible shortage in the forthcoming months. Qatar Petroleum’s cargo cost $30.6 per million British thermal units (mmbtu).
Gunvor and ENI, the firms that were supposed to supply the cargoes, didn’t fulfil their commitment, as a result, the Pakistan LNG Limited (PLL) had to make a call for an emergency tender to avoid any possible shortage of LNG.
In reply, Qatar Petroleum Trading filed the lowest tender of $30.65 per mmbtu, compared to Total Energies who filed a tender of $30.96 and Vitol Bahrain of $31.05 per mmbtu.
The firm will deliver the order around November 26-27.
The PLL has been under severe criticism as it failed to design proper strategies to ensure adequate LNG supplies when the prices dropped in the international market.