Pakistan to buy most expensive LNG cargo

By: News Desk      Published: 03:07 PM, 7 Nov, 2021
Pakistan to buy most expensive LNG cargo
Representational image.

The state-owned Pakistan LNG Limited (PLL) is going to buy the most expensive Liquefied Natural Gas of the country’s history as it is purchasing one LNG cargo for $30.65 per Million British Thermal Units (MMBtu) for the month of November, reported 24NewsHD TV channel on Sunday.

Sources informed that the PLL has decided to buy the costliest-ever LNG in order to avert the gas crisis in the winter season. The PLL will buy the LNG cargo for the current month at the exorbitant price of $30.65/MMBtu from Qatar Petroleum. 

Two other global companies which first accepted the PLL tenders for the LNG supply had backed out on their commitment and refused to supply the liquefied gas in the month of November. These cargoes were supposed to be delivered between Nov 19-20 and Nov 26-27. 

The PLL had floated emergency tenders for the procurement of these two cargos. For these emergency tenders, the PLL had got bids worth $31/MMBtu. 

The PLL has decided to buy LNG cargo for $30.65MMBtu for Nov26-27. It is also trying to procure the LNG cargo for Nov 19-20. 

The PLL is already in talks for the resumption of two cancelled LNG cargoes as well.

Sources said before this, the Pakistan LNG Limited bought the costlier LNG cargo in the month of October for $20.29MMBtu.

Reporter Awais Kiyani