No decision yet on LNG bids for September, says PSO


ISLAMABAD, Aug 22 (DNA): Pakistan State Oil (PSO) has issued an
explanation regarding the purchase of expensive LNG, saying neither the
PSO has cancelled any cargo deal nor it has taken any decision yet
regarding bidding for September.

The PSO made it crystal clear that it had undertaken the LNG spot buying
keeping in view the requirements.

The PSO officials said under the long-term agreement four cargoes were
purchased and as per the spot buying two cargoes were acquired.

The officials said they had planned in advance the LNG buying keeping in
view the coming winter season. It was planning to meet the growing gas
demand with the cheap LNG, they added.

They said in total under the long-term accord 28 cargoes were purchased
instead of 20. They bought the LNG keeping in view the country’s needs
and market situation.

The PSO officials said the bids received for the month of September will
be forwarded to the PSO Board. They have saved funds by purchasing cheap
LNG during the current month. DNA