Pakistani government has issued tenders for 750,000 tonnes of LNG

Pakistan plans to issue two international tenders for 750,000 tonnes per year of LNG each in the coming month, the head of the country’s state-owned LNG company said, as the nation seeks to alleviate chronic energy shortfalls.
Adnan Gilani, head of Pakistan LNG, a new state-owned company set up to manage procurement and supply of gas, said firms from Australia, Malaysia, Russia, Qatar, the U.S. and Azerbaijan are interested in the two tenders.
Pakistan has plowed billions of dollars into LNG infrastructure, including construction of a second LNG import terminal and pipelines linking the port city of Karachi with Lahore in the Punjab region, the nation’s industrial heartland.
Pakistan has been earmarked as an up-and-coming demand outlet for the oversupplied LNG market. Qatar, which signed two term supply contracts with Pakistan this year, is the country’s largest LNG supplier.
Gilani said an impending glut in global LNG production means Pakistan expects bids by international companies to be far below those offered by trading house Gunvor, which won the last international tender.
Though Gilani would not discuss financial details, traders say Gunvor offered a delivered price of 13.37% of a barrel of crude oil for the 60-cargo supply tender between 2016 and 2020.