Pakistan LNG Limited (PLL) has extended the deadline for the submission of bids for two spot liquefied natural gas (LNG) cargoes, scheduled for delivery in December and January, until November 10. This follows complaints from international LNG trading companies regarding technical difficulties with the newly introduced e-Pak Acquisition and Disposal System (EPADS) version 2.0.
The bidding deadline was originally set for November 6. However, several prospective bidders faced difficulties submitting their bids through the new electronic procurement platform introduced by the Public Procurement Regulatory Authority (PPRA), prompting the state-owned buyer to extend the deadline to ensure maximum participation.
The PLL has now fixed Tuesday, November 10, as the final date for submission, with bids to be opened the same day. The extension aims to provide suppliers with sufficient time to complete the process and encourage competition to secure better prices.
On November 4, the PLL issued tenders for two spot LNG cargoes following approval from the prime minister, as Pakistan prepares for a worsening gas shortage during peak winter months. Under the tender, international companies have been invited to offer one cargo for delivery between December 14 and 16 and another between January 9 and 11.
The procurement comes amid a sharp increase in international LNG prices, which have surged to around $32 per million British thermal units (MMBtu). After including insurance, war-risk surcharges, freight, and port handling charges, the delivered cost is estimated at $33.50 to $34 per MMBtu.
This could significantly increase the cost of electricity generated through regasified liquefied natural gas (RLNG), adding to the financial burden on consumers.