No bids in Pakistan LNG’s tender for ten spot cargoes

State-owned Pakistan LNG said it has received no bids for its latest tender seeking spot LNG cargoes for delivery in July-September.

The firm launched the tender last week inviting firms to submit bids for a total of ten cargoes.

The delivery windows included July 25-26, July 30-31, August 4-5, August 10-11, August 15-16, August 20-21, August 30-31, September 9-10, September 14-15, and September 19-20.

However, Pakistan LNG said in an evaluation report dated July 7 it has received no offers for these cargoes.

Prior to this tender, Pakistan LNG received only one bid for its tender seeking a total of four spot shipments for delivery in July.

QatarEnergy Trading, a unit of state-owned LNG giant QatarEnergy was the only bidder and it placed a bid just for one cargo during July 30-31 with a price of $39.8000/MMBtu for the shipment.

Local media reports said that Pakistan LNG did not take this offer due to the very high price.

Pakistan LNG also scrapped two tenders prior to this one saying that the bidders did not meet the meet the technical requirements.

This means that Pakistan did not manage to secure much-needed LNG supplies to fuel its power plants in the four last tenders.

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