ISLAMABAD: The Petroleum Division on Tuesday said that all spot cargoes purchased by Pakistan averaged $6.84 delivered ex ship (DES), while the cargoes received under long-term contracts averaged $8.06 DES, showing an increase of 18 per cent in price. The statement came in response to media comments about two spot cargo bids received by Pakistan LNG Limited (PLL) for deliveries in the second half of February 2021. PLL invited bids from international suppliers for the supply of two LNG cargoes on delivered ex-ship (DES) basis at Port Qasim, Karachi. Extremely high bids were received for two LNG cargoes for slots of February 15-16, 2021, February 23-24 from four LNG suppliers. In this regard, the Petroleum Division spokesperson said that spot market for LNG is always higher in the winter months versus summer months given the global demand and supply dynamics.

Source: Pakistan Today December 29, 2020 19:30 UTC