Pakistan LNG Limited awarded two spot LNG cargoes to TotalEnergies Gas and Power Limited after the French energy giant submitted the lowest bids in both lots. QatarEnergy Trading LLC also participated in the tender, marking a notable return to competitive bidding. However, TotalEnergies undercut QatarEnergy’s offer by a significant margin on the first cargo.
The evaluation report reveals the numbers clearly. For Cargo X1, TotalEnergies bid PKR 24.43 billion. QatarEnergy bid PKR 27.78 billion. That gap of roughly PKR 3.3 billion made TotalEnergies the clear winner. For Cargo X2, TotalEnergies submitted the only bid at PKR 24.28 billion. QatarEnergy did not compete for the second cargo.
Both bidders scored 100 out of 100 on technical evaluation and met all eligibility requirements. The tender used Least Cost Based Selection, so the lowest compliant bid wins automatically.
The combined value of both cargoes stands at approximately PKR 48.7 billion. Pakistan LNG Limited received the bids on November 10 and published the evaluation report the same day under Rule 35 of Public Procurement Rules, 2004. The procurement reference is P184536.
What makes this tender noteworthy extends beyond the price tags. QatarEnergy’s participation signals a potential normalization of LNG supply to Pakistan. Earlier this year, QatarEnergy declared force majeure on March 4 after an attack on its Ras Laffan LNG production complex. That declaration disrupted long-term supply commitments and forced Pakistan into the expensive spot market for months. During that period, Pakistan purchased multiple spot cargoes at prices reaching $21.88 per MMBtu, roughly double the long-term contract rate.
Throughout the summer, TotalEnergies dominated Pakistan’s spot LNG procurement. The company won multiple tenders, often as the sole bidder. Several tenders attracted only one or two offers, giving Pakistan little negotiating leverage. The fact that this latest tender drew two competing bids represents an improvement over those single-bid rounds.
For Pakistan’s energy economics, competition between suppliers matters enormously. When only one company bids, it effectively sets its own price. Two bidders create downward pressure. The PKR 3.3 billion gap between TotalEnergies and QatarEnergy on Cargo X1 demonstrates what competition delivers in practice.
Pakistan’s reliance on spot LNG purchases has added billions to the country’s import bill since the Middle East disruptions began. Every expensive spot cargo increases the gap between what regulators allow utilities to recover from consumers and what the government actually pays for fuel. That gap feeds directly into circular debt. Consequently, any move toward competitive bidding and lower prices carries fiscal significance beyond the energy sector alon
