PetroChina wins the lowest bid offer in Pakistan LNG tender
Recent reports state that the Chinese state-owned energy company PetroChina has offered the lowest bids for two spot LNG cargoes for deliveries in the first and last week of June. The announcement was made in a document by Pakistan LNG (PLL) on the 11th of May.
Details of the Document
The document posted on the PLL website read:
PetroChina offered the lowest bids of $23.96/mn Btu for June 1-2 delivery and $22.49/mn Btu for June 28-29 delivery. Other bidders were TotalEnergies and Vitol.
PLL is a state-owned entity with a mandate from the government to procure LNG from international markets and deliver it to local gas supply companies — Sui Southern Gas Company and Sui Northern Gas Pipelines — besides direct sales to Karachi-based private power utility — K-Electric. The Government of Pakistan mandated PLL to buy, import, store, distribute, transport, meter, and sell natural gas. Since it was registered as a limited company in December 2015, PLL has operated under the Ministry of Petroleum and Natural Resources.
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