Govt floats tender seeking bids for sixth spot LNG cargo since Mideast crisis

Pakistan LNG Limited (PLL) has issued a new tender to procure a 140,000-cubic-metre liquefied natural gas (LNG) cargo, marking the country's sixth spot LNG purchase since February 28 as supply disruptions under its long-term agreement with QatarEnergy continue due to tensions in the Strait of Hormuz and the wider regional conflict.

 

The cargo is scheduled for delivery during the July 21–22 window. Under the revised Public Procurement Regulatory Authority (PPRA) rules, PLL will receive bids from internationally recognized LNG suppliers at 2:00 pm on July 15, open the bids at 2:30 pm, and announce the successful bidder by 10:00 pm the same day.

 

The latest tender reflects Pakistan's growing dependence on the spot LNG market after QatarEnergy declared force majeure on March 4, which has since been extended until August, disrupting contracted LNG deliveries following the escalation of regional tensions that began on February 28.

 

Once the new shipment arrives, Pakistan will have imported 11 LNG cargoes during the current period, including six spot cargoes and five government-to-government cargoes supplied under its long-term agreement with QatarEnergy.

 

Before the arrival of the latest cargo, BP Singapore is expected to deliver Pakistan's fifth spot LNG shipment during the July 15–16 delivery window after submitting the lowest bid in PLL's previous tender. The company offered $18.2345 per mmBtu for the 140,000-cubic-metre cargo.

 

Earlier, the LNG vessel SK Resolute, carrying a spot cargo supplied by TotalEnergies at $17.37 per MMBtu, docked at the Pakistan GasPort Consortium Limited (PGPCL) terminal on July 11 to help meet peak seasonal gas demand.

 

Pakistan also received another spot LNG cargo on July 4, delivered by ARADA at a price of $16.7372 per MMBtu. Before that, BW Helios, carrying 167,000 cubic metres of LNG sourced from Oman, arrived on June 9, while Seapeak Magellan, carrying 140,000 cubic metres supplied by TotalEnergies, reached Pakistan on April 30.

 

Despite the ongoing disruptions, Pakistan has continued to receive delayed cargoes under its long-term contract with QatarEnergy. These include Al Kharaitiyat (210,000 cubic metres) on May 12, Mihzem (160,000 cubic metres) on May 16, Fuwairit (123,000 cubic metres) on May 28, Lebrethah (164,000 cubic metres) on June 12, and MRAIKH (170,148 cubic metres) on June 22.

 

All five long-term LNG cargoes were supplied by QatarEnergy under the government-to-government agreement, with pricing linked to 13.37% of the Brent crude benchmark.