November 7, 2021
1 min read

Pakistan buys costliest ever LNG to tackle gas crisis

The PLL has short- and long-term agreements with Gunvor and the ENI for one LNG cargo each every month, but both suppliers refused to honour their part of the agreements….reports Asian Lite News

Pakistan accepted an LNG cargo at the highest-ever price of $30.6 per Million British Thermal Units (mmbtu) from Qatar Petroleum on the grounds of averting a possible gas crisis in the upcoming winter season, Dawn reported.

The Pakistan LNG Limited (PLL) had floated emergency bids for two cargoes to be supplied in November, as the firms involved, Gunvor and ENI, had defaulted on their commitments.

The PLL has short- and long-term agreements with Gunvor and the ENI for one LNG cargo each every month, but both suppliers refused to honour their part of the agreements.

As a result, the state-owned firm had to call a tender on emergency basis for two LNG cargoes for the months of December and January, the Dawn news report said.

For the delivery in the last week of the current month, November 26-27, the lowest tender was filed by Qatar Petroleum Trading at $30.65 per mmbtu, followed by Total Energies at $30.96 and Vitol Bahrain at $31.05 per mmbtu.

Sources in the Petroleum Division said the first tender for supply on November 19-20 was scrapped as the country was facing gas shortage in December.

Therefore, the lowest bidder for the supply on November 26-27 was Qatar Petroleum at $30.65 per mmbtu, as re-gasification and supply of LNG into the system would be done in December, the sources added.

The PLL has been facing criticism for lacking proper strategies and ensuring LNG supplies when its prices were low in the international market.

At the same time the state-owned entities had restricted the private sector from importing LNG as it could challenge the monopoly enjoyed by the public sector, the report said.

ALSO READ: Pakistan cabinet lifts ban on TLP

ALSO READ: Soaring inflation chokes Pakistan

Previous Story

Musk holds twitter poll on $24 bn Tesla stock sale

Next Story

Ukrainian Prez to rid nation of oligarchy

Latest from -Top News

Ould Tah to head AfDB

Tah, a seasoned economist and development financier, will formally assume office on 1 September 2025, taking over from Nigeria’s Dr. Akinwumi Adesina Sidi Ould Tah of Mauritania has been elected as the

Big pay bump for SA workers

The landmark move, which follows months of intense negotiations with trade unions, is expected to benefit millions of civil servants across national and provincial departments. South Africa’s government has confirmed a sweeping

Deadly floods ravage Nigeria

Triggered by torrential rains and the collapse of a nearby dam on May 28, 2025, the floods have submerged vast areas, destroyed infrastructure, and displaced thousands of residents. The death toll from

Piyush Goyal Begins Europe Visit

As part of the visit, the minister will meet top leadership of major French companies such as Vicat, Total Energies, L’Oreal, Renault, Valeo, EDF and ATR….reports Asian Lite News Union Minister of

Call to Greylist Pakistan Over Terror Links

Freddy Svane, the former Danish Ambassador to India, said that it is high time for the world to acknowledge that Pakistan remains the epicentre of terrorism in the region….reports Asian Lite News
Go toTop

Don't Miss

Pakistan SC to Take Up Lifetime Disqualification Matter

Justice Athar Minallah pointed out that the case was connected

Imran’s PTI launches Jail Bharo Tehreek’

The campaign was smartly turned into top trends on social