Page 8 - GLNG Week 33 2022

GLNG ASIA GLNG

Pakistan seeks 72 LNG

cargoes over six years

IMPORTS STATE-OWNED Pakistan LNG has launched a country to purchase LNG on the spot market
tender for one cargo of LNG per month over a in recent months. In July, Pakistan LNG was
six-year period, or 72 cargoes in total, according reported not to have received a single offer in
to a document posted on the company’s website. a $1bn tender covering 10 cargoes. In a previ-
The tender documents are available until Sep- ous tender, the company received a sole bid,
tember 13, and the last date for submitting bids which was reported to be the highest bid it had
is September 14. The cargoes would be received ever received. It subsequently rejected the offer,
at Port Qasim, Karachi, on a delivered-ex-ship which had come from QatarEnergy.
(DES) basis. However, this has exacerbated the power
Media reported that the tender has been generation crisis currently gripping the country.
issued in two parts. Under the first, bids have Fuel traders have been reported as saying they
been invited for one year – from December 2022 are hesitant to sell refined products such as gas-
to December 2023 – under which one cargo will oline and fuel oil to Pakistan over concerns that
be delivered every month. Under the second the country could struggle to make payments.
part, Pakistan will seek one cargo per month, or Some banks are also reported to have restricted
60 LNG cargoes in total, over a five-year period access to financing for Pakistan’s energy imports,
from January 2024 to December 2028. while others have started charging higher rates as
Pakistan receives most of its LNG from Qatar a risk premium, making it more challenging still
under long-term contracts, meeting additional for the country to access the finances needed for
demand from the spot market. However, rising energy imports. ™
prices have made it more challenging for the

P8 www. NEWSBASE .com Week 33 19•August•2022