PLL awards LNG tender to Vitol

SINGAPORE:

Pakistan LNG Limited (PLL) awarded a tender to commodities trader Vitol for the delivery of a liquefied natural gas (LNG) cargo in December, a source with knowledge of the matter said on Thursday, making it the country’s first spot purchase in over a year.

Last week, PLL issued a tender seeking two spot LNG cargoes for delivery on December 7-8 and 13-14. It received bids from Vitol and Trafigura for the December 7-8 delivery window at $15.97 per million British thermal units (mmBtu) and $18.39/mmBtu respectively. It received one bid from Trafigura at $19.39/mmBtu for the Dec. 13-14 delivery window.

Asian spot LNG prices rose to $15/mmBtu last Friday on increased demand in Asia and supply concerns in Europe.

Published in The Express Tribune, October 6^th, 2023.

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