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Facing energy crunch, Pakistan buys LNG cargoes at highest rates since 2015
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Faced with energy crunch, Pakistan buys LNG cargoes at highest rates since 2015
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July 11, 2021
ISLAMABAD: Another brewing LNG crisis is most likely to hit the country again in September and October, as the government has refused to purchase 8 spot LNG cargoes for these months since the gas was offered at higher cost in range of $13.787-$16.0 per MMBTU (per million British thermal units). The Pakistan LNG Limited (PLL) - 100 percent state owned company, had floated the tender for 8 LNG spot cargoes (4 for September and 4 for October) but because of the higher than expected rates, the government cancelled them by rejecting to buy LNG at high sky spot prices.
However, PLL has not uploaded the details of the bids it received on its official web site, raising several eyebrows. The top sources in the Petroleum Division feared that the country could suffer from another gas crisis due to shortage in the aftermath of rejection of higher bids for spot cargoes. Earlier this week, a gas-cum-electricity crisis had hit the country because of dry docking of FSRU at Engro LN
July 11, 2021
ISLAMABAD: Another brewing LNG crisis is most likely to hit the country again in September and October, as the government has refused to purchase 8 spot LNG cargoes for these months since the gas was offered at higher cost in range of $13.787-$16.0 per MMBTU (per million British thermal units). The Pakistan LNG Limited (PLL) - 100 percent state owned company, had floated the tender for 8 LNG spot cargoes (4 for September and 4 for October) but because of the higher than expected rates, the government cancelled them by rejecting to buy LNG at high sky spot prices.
However, PLL has not uploaded the details of the bids it received on its official web site, raising several eyebrows. The top sources in the Petroleum Division feared that the country could suffer from another gas crisis due to shortage in the aftermath of rejection of higher bids for spot cargoes. Earlier this week, a gas-cum-electricity crisis had hit the country because of dry docking of FSRU at Engro LN
July 11, 2021
ISLAMABAD: Another brewing LNG crisis is most likely to hit the country again in September and October, as the government has refused to purchase 8 spot LNG cargoes for these months since the gas was offered at higher cost in range of $13.787-$16.0 per MMBTU (per million British thermal units). The Pakistan LNG Limited (PLL) - 100 percent state owned company, had floated the tender for 8 LNG spot cargoes (4 for September and 4 for October) but because of the higher than expected rates, the government cancelled them by rejecting to buy LNG at high sky spot prices.
However, PLL has not uploaded the details of the bids it received on its official web site, raising several eyebrows. The top sources in the Petroleum Division feared that the country could suffer from another gas crisis due to shortage in the aftermath of rejection of higher bids for spot cargoes. Earlier this week, a gas-cum-electricity crisis had hit the country because of dry docking of FSRU at Engro LN
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