Pakistan LNG’s latest spot tender attracts only one bid with very high price

Pakistan LNG has received only one bid for its latest tender seeking a total of four spot shipments for delivery in July.

The state-owned firm launched this tender on June 13 after it scrapped two previous tenders due to technical reasons.

Pakistan LNG offered four windows including July 3-4, July 8-9, July 25-26, and July 30-31.

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, Pakistan LNG’s report dated June 23 shows.

The trading unit offered a price of $39.8000/MMBtu for the shipment, the report said.

For comparison, PetroChina International Singapore previously submitted the most competitive bid for the June 1-2 delivery and the June 28-29 delivery.

The firm offered a price of $23.968/MMBtu for the first shipment and $22.498/MMBtu for the second shipment, Pakistan LNG previously said.

Pakistan LNG has lately issued several tenders 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 two weeks due to reduced flows of Russian gas in Europe and the Freeport LNG outage.

- Advertisements -

Most Popular

Israel’s NewMed Energy keen to develop Leviathan FLNG project

Israel's NewMed Energy, previously known as Delek Drilling, is "really keen" to develop a floating LNG terminal as part...

Deutsche ReGas says first FSRU arrives in Germany

Deutsche ReGas, the developer of the LNG import terminal in the port of Lubmin, said on Wednesday that Germany's...

Samsung Heavy to build five LNG carriers for more than $1 billion

South Korean shipbuilding giant Samsung Heavy Industries has secured a new order to build five liquefied natural gas (LNG)...

More News Like This

QatarEnergy inks huge LNG supply deal with China’s Sinopec

QatarEnergy has entered into a 27-year deal to supply LNG to China’s state-controlled energy giant Sinopec. The state-owned LNG giant...

Qatargas wraps up 30,000th Ras Laffan loading op

LNG producer Qatargas, a unit of QatarEnergy, said it had loaded the 30,000th ship from its operated terminals in...

Japan’s MOL inks deal with QatarEnergy for three new LNG carriers

Japan's MOL said it had signed a long-term charter contract for three newbuilding liquefied natural gas carriers with QatarEnergy,...

QatarEnergy pens deals for five LNG carriers with Asian consortium

State-run QatarEnergy has signed deals for five LNG carriers with an Asian consortium, completing the next batch of charter...