LNG cargo bids for January opens 

By: News Desk      Published: 02:15 AM, 11 Dec, 2020
LNG cargo bids for January opens 

The Pakistan Liquefied Natural Gas Limited has opened cargo bids for January, sources said on Thursday.

The lowest price offered was 15.3209% of Brent crude and for the two other January cargoes were Brent crude slope rates of 17.3203% and 17.3207%.

There were no bids placed for delivery of cargoes in the first three.

Pakistan’s gas needs typically rise in December and January but a deficit in supply versus demand is expected to increase this year as consumption rises and indigenous supply declines.

The power sector is Pakistan’s largest natural gas consumer, followed by residential consumption and the fertiliser industry.