Pakistan LNG rejects $26.97/MMBtu spot cargo bid, retenders for September

Pakistan LNG Limited (PLL) turned down the only offer it received for an emergency spot cargo of liquefied natural gas for September, judging the price too high. Profit reported that BP Singapore was the lone bidder and had technically qualified, but its offer of $26.969 per million British thermal units (MMBtu) was rejected.

The original tender, issued on August 30 with bids due September 1, asked for 140,000 cubic metres for delivery at Port Qasim in Karachi between September 4 and 8. The terms were on a Delivered Ex-Ship (DES) basis, with 5% tolerance on volume. PLL has now re-tendered for one spot cargo for Port Qasim between September 8 and 12, 2026, with bids to open on September 4.

PLL buys LNG from overseas markets and arranges its delivery to end users. The purchases follow a force majeure declaration by QatarEnergy, a long-term supplier to Pakistan, after Iran struck two of its major sites in March and halted output. Those disruptions have pushed Pakistan toward the spot market for part of its shortfall.