Pakistan pays record price for LNG: press

Pakistan has paid its highest ever price of $30.65/mn Btu for an LNG cargo bought from Qatar, local media reported on November 7.

State-owned Pakistan LNG (PLL) had requested emergency bids for two cargoes to be supplied in November as two suppliers had defaulted on their commitments.

While the bids were called for cargoes to be supplied during November 19-20 and 26-27, PLL decided not to entertain the first bid, Dawn reported. Sources in the government told the newspaper that the first tender for supply on November 19-20 was scrapped as the country was facing a gas shortage in December.

Therefore, the lowest bidder for the supply on November 26-27 was Qatar Petroleum at $30.65/mn Btu, as re-gasification and supply into the system would be done in December, the sources told Dawn.

Pakistan has two operational LNG regasification terminals, both at Port Qasim near Karachi.