KARACHI: In response to its latest liquefied natural gas (LNG) tender, the Pak LNG Limited (PLL) received two bids of $29.67/mmbtu and $29.79/mmbtu, both for the delivery window of May 1 to 2, 2022, a statement said on Thursday.

PLL had issued an emergency tender for one cargo to be delivered in May. TotalEnergies offered to provide the cargo at the rate of $29.67/mmbtu, while Vitol Bahrain offered $29.79/mmbtu for the same delivery window, i.e., May 1 to 2, 2022.

Last week, PLL had failed to procure LNG from the spot market at a reasonable price for April, May and June 2022, with severe liquidity issues linked to the circular debt.

The Pakistan State Oil (PSO) will import seven cargoes under a long-term agreement with Qatar and PLL forged in 2014 by the PML-N government. Only one cargo, which is a term cargo, will be provided by the energy company. However, PLL remains unclear whether it will be able to manage the term cargo from ENI.