Pakistan is securing another spot LNG cargo as Pakistan LNG Limited (PLL) accepted TotalEnergies' bid of $17.3700 per million British thermal units (mmBtu) for delivery on July 10-11. The state-owned company received two bids in response to its tender: BP Singapore offered $17.9688/mmBtu and TotalEnergies Gas & Power Limited offered $17.3700/mmBtu. PLL declared TotalEnergies as the lowest evaluated bidder.
Tender Details and Approval
PLL floated the tender on Wednesday to procure one spot LNG cargo for the July 10-11 delivery window. The bids were opened on July 3, and the PLL board has approved TotalEnergies' offer. The purchase comes amid uncertainty over LNG supplies from Qatar and rising electricity demand in Pakistan.
Impact of Geopolitical Tensions
The US-Israel-Iran conflict has disrupted Qatari LNG supplies, forcing the government to buy from the spot market to meet growing electricity needs. According to PLL officials, the spot purchase is necessary to ensure energy security during peak summer demand.
