Pakistan gets four bids for LNG

Pakistan has received four offers after opening a tender for Liquefied Natural Gas (LNG) cargo to meet the country’s winter demand, citing sources, ARY News reported on Friday.

The caretaker government expedited efforts to overcome the gas shortage in the winter season and floated a tender for LNG purchases for January 2024.

Sources told ARY News that four offers have been made to Pakistan so far. The minimum bid was $18.46 per MMBtu and the highest bid was $19.64 per MMBtu.

In another development today, the Oil and Gas Regulatory Authority (OGRA) notified an increase in the prices of liquefied natural gas (LNG).

According to a notification, OGRA increased the prices of imported re-gasified liquefied natural gas (LNG) for both gas companies, Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) for the rest of October.

For SNGPL, the price of liquified gas has been increased by $0.15 per mmbtu while for SSGC consumers the rate has been hiked by $0.16 per mmbtu.

According to the notification, the new LNG price for SNGPL has been set at $13.49 per unit while the prices for SSGC have been set at $14.03 per MMBTU.