PetroChina, Trafigura submit lowest bids in Pakistan LNG tender

Energy giant PetroChina and trader Trafigura have submitted the lowest bids in a tender to supply Pakistan with five spot LNG cargoes over the October-November period.

Five companies took part in the tender, including Gunvor Singapore, Vitol Bahrain, and Total gas and Power, Pakistan LNG’s evaluation report dated September 2 shows.

Trafigura submitted the lowest offers for four cargoes, while PetroChina placed the lowest offers for one cargo.

The report says that Trafigura submitted the most competitive bids for the October 8-9 delivery, October 23-24, October 28-29, and November 12-13.

Trafigura offered its lowest price of $19.8444/MMBtu for the October 8-9 delivery and the highest of $20.9677/MMBtu for the November 12-13 delivery, the document shows.

On the other side, PetroChina submitted the lowest bid for the November 6-7 window priced at $20.3888/MMBtu.

Prior to this tender, Pakistan LNG launched a tender with similar dates for October-November and received the lowest bids for seven cargoes from Vitol Bahrain and Total Gas and Power.

Local media reports suggest that the firm did not award these cargoes and launched another tender in order to secure lower prices. However, it did not manage to do so as spot LNG prices are currently trading at their record levels for this time of the year.

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