Pakistan floats tender for two spot LNG cargoes

State-owned Pakistan LNG has released a new tender inviting firms to submit bids for a total of two shipments for delivery in November.

Pakistan LNG offered two windows for the cargo deliveries, according to a tender document dated November 2.

The delivery windows include November 19-20 and November 26-27.

The importer is seeking 140,000-cbm cargoes on a delivered ex-ship (DES) basis while the tender closes on November 5.

Also, the potential tender winner will deliver the cargoes to the FSRU BW Integrity serving Pakistan GasPort’s terminal in Port Qasim, Karachi, or the Energo Elengy facility.

Local media reports suggest that this is an emergency tender as term suppliers Gunvor and Eni canceled deliveries of two November LNG cargoes.

Prior to this tender, Pakistan LNG sought eight spot LNG cargoes over the December-January period. However, it received no offers for these cargoes.

This comes at a time when spot LNG prices broke several records.

S&P Global Platts said last month 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. The price declined in the meantime but it continues to trade around $30/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.

Most Popular

Hanwha Ocean scores $1.26 billion order for LNG-powered containerships

Hanwha Ocean said on Thursday it will build six containerships with a capacity of 15,000 teu. The order is worth...

Chevron Australia says strike not expected to impact LNG production

The Offshore Alliance, which includes the Maritime Union of Australia and Australian Workers’ Union, said that its members working...

Vopak, Transnet moving forward with South African LNG terminal plans

In January, South Africa’s Transnet National Ports Authority appointed the two firms to build and operate the import facility at the...

More News Like This

Excelerate: Pakistan FSRU wraps up 600th STS LNG transfer

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

Gunvor, Pakistan settle LNG supply dispute

Geneva-based energy trader Gunvor has resolved a dispute with state-owned Pakistan LNG over issues related to contracted LNG supplies. "Gunvor...

OQ Trading submits lowest bid in Pakistan LNG tender

Oman’s state-owned firm OQ Trading has submitted the lowest bid in a tender to supply Pakistan with one spot...

Pakistan launches tender for one spot LNG cargo

State-owned Pakistan LNG has released a tender inviting firms to submit bids for one spot LNG shipment for delivery...