No bids in Pakistan LNG’s tender for December-January spot cargoes

State-owned Pakistan LNG said it received no bids for a recent tender seeking spot LNG cargoes over the December-January period.

The firm launched the tender last month inviting firms to submit bids for a total of eight cargoes for delivery over the period.

However, it said in an evaluation report it received no offers for these cargoes.

Pakistan LNG did not provide any additional information.

Spot LNG prices broke several records lately. S&P Global Platts said last week that the JKM for November had reached $56.326/MMBtu, the highest level for the LNG benchmark for Asian spot LNG since Platts launched it in early 2009.

Prior to this tender, Pakistan LNG sought five spot cargoes over the October-November period.

Energy giant PetroChina and trader Trafigura have submitted the lowest bids in this tender. The prices ranged from $19.8444/MMBtu to $20.9677/MMBtu.

Pakistan has been steadily increasing its LNG imports over the years and the country plans to build several more terminals to cope with gas shortages for power generation.

Port Qasim currently hosts two LNG import facilities both utilizing floating storage and regasification units.

The country’s first terminal started operations back in 2015 utilizing Exclerate’s FSRU while the second floating LNG import facility uses FSRU BW integrity.

- Advertisements -
spot_img

Most Popular

Qatargas kicks off work on four giant LNG trains

LNG producer Qatargas, a unit of Qatar Energy, said it has started construction on four giant LNG trains in...

Denmark’s Celsius charters LNG carrier quartet to Gunvor’s unit

Denmark’s Celsius Tankers, a unit of Celsius Shipping, has signed charter deals for its four LNG newbuilds with Clearlake...

Greenpeace activists write a message on Croatian FSRU

Greenpeace activists wrote a message on Monday on the starboard side of the 140,000-cbm LNG Croatia FSRU located at...

More News Like This

FSRU Exquisite wraps up 400th STS LNG transfer in Pakistan

The 150,900-cbm FSRU Exquisite, owned by Qatari LNG shipping giant Nakilat and US floating player Excelerate Energy, has completed...

Pakistan floats tender for 8 spot LNG cargoes

State-owned Pakistan LNG has released a new tender inviting firms to submit bids for a total of eight cargoes...

PetroChina, Trafigura submit lowest bids in Pakistan LNG tender

Energy giant PetroChina and trader Trafigura have submitted the lowest bids in a tender to supply Pakistan with five...

TotalEnergies, Vitol submit lowest bids in Pakistan LNG tender

French energy giant TotalEnergies and trader Vitol have submitted the lowest bids in a tender to supply Pakistan with...