KARACHI: Pakistan LNG Limited (PLL) has finalized lowest bids ranging $6.7/mmbtu to $6.925/mmbtu for eight LNG cargoes to be delivered during April to June 2021.

It was the first time PLL invited bids on fixed dollar rates instead of percentage of Brent, as was the practice.

PLL received a total of 42 bids for the advertised eight deliveries.

Eni SpA will deliver one consignment on April 30, another consignment on May 26-27 and one more on June 18-19, 2021 at the rate of $6.7/mmbtu.

QP Trading will make two deliveries, first on May 11-12 at the rate of $6.825/mmbtu and the other on May 16-17, 2021 at the rate of $6.925/mmbtu.

Vitol Bahrain will make a delivery on May 31, 2021 at the rate of $6.7832/mmbtu, while PetroChina will make two deliveries, one on June 08-09 at $6.835/mmbtu and second on June 27-28, 2021 at the rate of $6.885/mmbtu.   

The average LNG price for May delivery into Northeast Asia LNG-AS was estimated at about $6.55/mmbtu and $5.7/mmbtu fir April deliveries.

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