On Thursday, state-run Pakistan State Oil (PSO) received a better offer for Liquefied Natural Gas (LNG) from longtime friendly supplier Qatar Petroleum (QP) for delivery in the last week of this month at $15.93 per unit (22.13 percent Brent), which remains the country’s highest-ever LNG price.
The country’s largest corporation by sales and major fuel supplier verified the cargo for Aug 29-30 would be the most expensive so far while accepting the lowest proposal among three others.
“The greatest slope PSO has paid was 18.93% of Brent in February 2016,” according to a company representative.
In a rare public statement following the new government instructions that the bid received for its re-tender “translates into $15.9271 per mmBtu (million British thermal units), which is very competitive with the current market rates,” saving the government Rs2.1 billion. According to the report, the PSO chose to allocate the cargo to QP.
