Pakistan launches tender for ten spot LNG cargoes

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

Pakistan LNG offered ten windows for the cargo deliveries and the tender closes on July 7, according to a document released last week.

The delivery windows include 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.

Pakistan LNG is seeking 140,000-cbm cargoes on a delivered ex-ship (DES) basis.

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.

Prior to this tender, Pakistan LNG has 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 suggest that Pakistan LNG did not take this offer due to the very high price.

The state-owned firm issued several tenders this year as the country looks to secure much-needed supply to fuel its power plants.

However, the spot prices remained high during this entire year and they further rose in the last couple of weeks due to reduced flows of Russian gas in Europe and the Freeport LNG outage.

The JKM LNG price for August is currently trading at above $38/MMBtu.

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