Pakistan LNG gets bids from OQ Trading, others in Jan import tender
Pakistan LNG Ltd's import tender for a liquefied natural gas (LNG) cargo for delivery in January drew bids from OQ Trading, QatarEnergy Trading, Trafigura and Vitol, it said in a notice on Friday.
The state-owned company, which procures LNG from the international market, issued the tender on Monday, seeking the cargo for delivery to Port Qasim, Karachi over Jan. 8-9.
OQ Trading, formerly known as Oman Trading International, offered a cargo at $18.46 per million British thermal units (MMBtu), while Vitol offered $18.58/MMBtu.
QatarEnergy Trading and Trafigura quoted $19.43/MMBtu and $19.64/MMBtu respectively.
Pakistan has struggled with spot LNG purchases after Russia's invasion of Ukraine pushed prices to record highs, leaving the country facing widespread power outages.
Pakistan LNG made its first spot purchase in more than a year in October when it awarded a tender to commodities trader Vitol for the delivery of a cargo in December.
Natural gas accounts for more than a third of power generation in Pakistan but local gas reserves are insufficient to address growing electricity demand.
(Reporting by Emily Chow; Editing by Edmund Klamann, Kirsten Donovan)
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