SINGAPORE: Pakistan LNG is seeking two liquefied natural gas (LNG) cargoes for delivery in April, a tender document posted on the company website showed.
The state-run procurement agency is seeking the cargoes on a delivered ex-ship (DES) basis at Port Qasim, Karachi, for delivery over April 5 to 6 and April 19 to 20, according to the document.
The tender closes on Jan. 29 and remains valid until Feb. 12.
Earlier this week, SOCAR Trading (UK) Limited and ENOC Singapore offered the lowest prices to supply two liquefied natural gas (LNG) cargoes to Pakistan LNG Limited (PLL) for delivery in February 2021, according to a tender document published on Tuesday.
SOCAR offered a cargo for delivery between Feb. 15 to 16 at a percentage of the Brent crude oil futures price, known as a slope rate, of 23.4331% while ENOC offered a slope rate of 20.8483% for a cargo for Feb. 23 to 24, according to the document on the PLL website.
PLL is a government subsidiary that procures LNG from the international market.
Global LNG supply has been tight amid production issues and that has pushed spot prices to a near two-year high and freight rates for LNG tankers to a more than one-year high.
Pakistan is yet to decide on whether it will award the tenders, said an official at the country’s petroleum ministry, as the rules require a 10-day gap between the bid announcement and the award.
Earlier this month, Pakistan issued a prompt tender after three out of six cargoes it had sought in an earlier tender for January received no bids, but the country did not award the tenders given the high rates.
The South Asian country has become an emerging buyer in the international LNG market over the last few years, with an increasing gap between demand and supply of gas.
Pakistan has long-term purchase deals in place, but regularly taps the spot market as demand continues to rise.
The power sector is Pakistan’s largest natural gas consumer, followed by residential consumption and the fertilizer industry.
Pakistan LNG seeks two cargoes for April delivery
https://arab.news/27sa5
Pakistan LNG seeks two cargoes for April delivery
- State-run agency is seeking the cargoes over April 5 to 6 and April 19 to 20
- The tender closes on January 29 and remains valid until February 12
Pakistan reviews austerity measures amid Middle East crisis, urges strict nationwide implementation
- Deputy Prime Minister Ishaq Dar chairs review meeting of austerity steps
- Officials briefed on salary cuts, school closures, four‑day week, petrol conservation
ISLAMABAD: Pakistan’s government on Wednesday assessed progress on a sweeping set of austerity measures introduced to mitigate the country’s economic strain from sharply rising global oil prices and supply disruptions linked to the ongoing war in the Middle East.
Prime Minister Shehbaz Sharif this week announced a series of austerity steps, including a four‑day work week for government offices, requiring 50 percent of staff to work from home, cutting fuel allowances for official vehicles by half, grounding up to 60 percent of the government fleet and closing all schools for two weeks to conserve fuel amid the global oil crisis.
The measures were unveiled in response to global oil market volatility triggered by the conflict involving the United States, Israel and Iran, which has disrupted supply routes such as the Strait of Hormuz and pushed crude prices sharply higher, straining Pakistan’s heavily import‑dependent energy sector.
“The meeting stressed the importance of strict and transparent adherence to the austerity measures, promoting fiscal responsibility and prudent use of public resources,” Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar said in a statement.
He was chairing a meeting of the Committee for Monitoring and Implementation of Conservation and Additional Austerity Measures, constituted under the directions of the PM, bringing together federal and provincial officials to review execution of the broad cost‑cutting plan.
Dar emphasized the government’s commitment to enforcing the PM’s austerity steps nationwide. The committee’s review also covered reductions in departmental expenditure, deductions from salaries of senior officials earning over Rs. 300,000 ($1,120), and coordination with provincial administrations to ensure uniform implementation of the plan.
Participants at the meeting reiterated that all ministries and divisions must continue strict monitoring and reporting, with transparent oversight mechanisms, as Pakistan navigates the economic pressures from the prolonged Middle East crisis and its fallout on global energy and trade markets.
