Strait of Hormuz closure pushes Pakistan into expensive $18.4 per mmBtu LNG deal

ISLAMABAD: State-run Pakistan LNG Limited (PLL) has approved a revised bid of $18.4 per million British thermal units (mmBtu) from TotalEnergies for delivery between April 27 and 30, while rejecting all other bids. TotalEnergies had initially bid $18.88 per mmBtu but later revised its offer downward to $18.4 following negotiations. After internal consultations, the authorities rejected all other bids for the first half of May, anticipating the reopening of the Strait of Hormuz. On Friday, PLL ha...