Pakistan State Oil (PSO) has yet to take a decision either to award a bid of $25 per million British thermal unit (mmbtu) for one Liquefied Natural Gas (LNG) cargo for mid-September delivery or go for re-tendering.

The lowest bids, against the PSO tender of spot purchase, received an offer of 34.67 percent of Brent or $25 per mmbtu for the window of September 16-17, from Qatar Petroleum.

The PSO tendered in the spot market for the delivery of two LNG cargoes for the delivery windows of September 16-17 and September 26-27 from global suppliers. The bid closing date was August 20, 2021. Qatar Petroleum offered $25 per mmbtu for the first delivery window, which was the lowest bid.

While for the second window of September 26-27, Vitol offered 24.55 per cent of Brent or $18 per mmbtu. In July 2021, the bids for four spot LNG forward deliveries in September accepted by the Pakistan LNG Ltd (PLL) ranged between $15.2 to $15.5 per mmbtu.

The PLL is mandated by the Government of Pakistan to carry out the business of buying, importing, storing LNG, distributing, transporting, metering, and selling of natural gas.

A tender by the PSO was awarded earlier on August 5, 2021 to Qatar Petroleum Trading at a slope of 22.1311 percent of Brent, or around $15.93/mmbtu, as bids by traders Vitol and Guvnor at slopes of 24-28 percent, which were relatively high. Asian spot LNG prices soared above $16 per million British thermal units (mmbtu) in first half of August 2021.

The story was filed by the News Desk. The Desk can be reached at


Please enter your comment!
Please enter your name here