The official said that authorities may also ask the Qatar Gas Company to provide in the month of December three more LNG cargoes at the contracted price of 13.37 percent of the Brent. And if not, then what options the authorities have with them. The official said that authorities will place the bids for six cargoes before the procurement committee and Sui Northern will give its final word as to whether the said LNG cargoes should be procured or not. But those who have sealed the LNG deal from Qatar at 13.37 percent of the Brent for 15 years are facing cases, but lets see if NAB takes on the government of day that will pay more $50-100 million on 6 LNG cargoes if compared with the cost of 13.37 percent of the Brent. He further went on to say that this government neither built more LNG terminal nor lay down even an inch of pipeline. Now the price at 17 percent of Brent which is around $35 is $6 per MMBTU. At that time LNG was available at five to six year contract, but this government did not make any deal which shows how incompetent this government is. And the tragedy is when the prices were at historic lows during the first wave of COVID-19 the government could’ve bought cargoes for $2.5 per mmbtu but they didn’t. Now the sitting government is buying much more expensive cargoes.
And Vitol submitted four lowest bids, the first cargo to arrive on December 13-14 at 16.972 percent of Brent, second for December 18-19 at 16.5513 percent, third for December 24-25 at 15.97 percent of the Brent and for the fourth LNG cargo to land on December 30-31, it submitted the lowest price at 15.876 percent of Brent.Almost six companies that include Gunvor, Trafigura, SOCAR, Vitol, DXT Commodities and ENI participated in bidding for provision of six LNG cargoes, but three companies SOCAR, Trafigura and Vitol emerged on the scene with the lowest bids which are factually at higher side.ĭr Miftah Ismail, former finance minister and PML-N leader said that the PML-N government bought LNG at 13.37 percent of the Brent from Qatar gas company for 15 years, at 11.62 percent of Brent from Gunver and at 11.99 percent of the Brent rom ENI. The lowest bids are far higher in terms of price than the price of LNG from Qatar, which was sealed at 13.37 percent of Brent by the PML-N government.Īccording to the bids, SOCAR submitted the lowest bid at 16.84 percent of the Brent for LNG cargo to be delivered on December 3-4, Trafigura came up with the lowest bid at 16.987 percent of the Brent for cargo to arrive at 8-9 December. The lowest bids for six LNG cargoes range from 16.98 percent of the Brent to 15.87 percent. The spot procurement of six LNG cargoes is must for the month of December to cope with the massive gas shortages that the country will brave. This process is then continued for additional cycles while lowering the height of the limbo bar each cycle until a victor emerges.The lowest bid for each LNG cargo appeared at a very higher side putting the authorities in limbo, wondering how they should advance.
Contestants are eliminated if they fall or come into contact with the bar.Head and neck must not be turned sideways to help go under the bar more easily.Only the feet is allowed to touch the ground.The bar must never come in contact with any part of the body.
Limbo is a popular and ancient game played by passing under a low bar with the aim of not losing balance or dislodging the bar.
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