Pakistan launches tender for two spot LNG cargoes

State-owned Pakistan LNG has released a tender inviting firms to submit bids for two spot shipments for delivery in December.

Pakistan LNG offered two windows for the cargo deliveries and the tender closes on October 4, according to a document released on September 27.

The delivery windows include December 7-8 and December 13-14.

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

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

Pakistan LNG has not issued a tender for cargoes since June this year, when it launched two tenders for spot cargoes.

The firm received no offers for its tender seeking bids for a total of six spot LNG shipments for delivery in October and December, while Trafigura offered two shipments for the second tender seeking three cargoes over January-February 2024.

Trafigura offered a price of $23.4711/MMBtu for the January 3-4 delivery and $22.4722/MMBtu for the February 23-24 delivery.

This Trafigura offer was the first bid for spot LNG cargoes Pakistan received for its tenders in about a year.

However, several media reports suggested that Pakistan LNG did not take this offer due to high prices.

In October last year, Pakistan LNG said it had received no offers for its tender seeking bids for a total of 72 LNG shipments.

Prior to that, it received no bids in July for a tender seeking ten spot cargoes.

Pakistan gets most of its supplies under long-term contracts from Qatar and on the spot market, however, last year prices surged and Europe took most of the available spot supplies.

In July this year, Pakistan also signed a one-year deal to buy one LNG cargo per month from Azerbaijan’s Socar.

GIIGNL data shows that Pakistan’s LNG imports dropped by 16 percent to 6.91 million tons last year due to high prices.

The country imported almost all of these volumes under long-term contracts from Qatar, or some 6.10 million tons, the data shows.

Spot prices dropped considerably this year, prompting Pakistan and other Asian countries such as Bangladesh to return to buying spot LNG.

The JKM for November settled at $14.595 per MMBtu on Wednesday.

- Advertisements -

Most Popular

Golden Pass LNG contractor Zachry files for bankruptcy

US construction company Zachry said on Tuesday it has filed for bankruptcy, initiating a structured exit from the Golden...

Kinder Morgan secures more time for Gulf LNG export project

US energy company Kinder Morgan and its partners have secured more time from the US FERC to add liquefaction...

Hoegh LNG: commissioning of Brazilian FSRU completed

Commissioning of the FSRU Hoegh Giant which serves Cosan's LNG import terminal in Brazil's port of Santos has been...

More News Like This

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...

Trafigura, Vitol offer spot LNG cargoes to Pakistan

State-owned Pakistan LNG has received offers for spot liquefied natural gas shipments from traders Trafigura and Vitol following a...