AsiaContracts and Tenders

Vitol, PetroChina place lowest bids in Pakistan LNG tender

By LNG Prime Staff
Vitol, PetroChina place lowest bids in Pakistan LNG tender
FSRU BW integrity in Port Qasim (Image: BW LNG)

Vitol Bahrain and PetroChina have submitted the lowest bids in a tender to supply Pakistan with two spot LNG cargoes in April-May.

Four companies took part in the tender, including TotalEnergies and Enoc Singapore, Pakistan LNG’s evaluation report dated March 25 shows.

Trader Vitol submitted the most competitive bid for the April 21-22 delivery, while state-owned energy giant PetroChina submitted the lowest bid for the May 14-15 window.

Vitol offered a price of $34.6777/MMBtu. PetroChina priced its cargo at $33.5300/MMBtu, the document shows.

Pakistan launched this tender on March 17. According to local media reports, term supplier Gunvor canceled deliveries of four LNG cargoes for delivery in April-June.

Earlier this year reports also said that Gunvor and Eni had canceled deliveries of two March LNG cargoes.

The JKM spot LNG price surged to a new record of $59.672/MMBtu in March over tight supply due to the Russia-Ukraine war. Europe is attracting a huge amount of LNG shipments, mostly from the US.

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.

Most Popular

Contracts and Tenders

Venture Global seals new deals to support expansion of its power network

US LNG exporter Venture Global has entered into power and grid frame agreements with GE Vernova and Baker Hughes for up to 16 new, 720 MW power island units and associated power transformer equipment, supporting the continued expansion of its existing behind-the-meter, industrial power network that is not reliant on the grid.
LNG Terminals

Venture Global gets approval to place first Plaquemines LNG phase in service

Venture Global’s Plaquemines LNG has secured approval from the US FERC to place Phase 1 of its LNG export plant in Louisiana into service.
Vessels

Hanwha Ocean, Posco plan to build LNG carrier with high-manganese steel tanks

South Korean shipbuilder Hanwha Ocean and steel producer Posco plan to build a liquefied natural gas (LNG) carrier equipped with high-manganese steel cargo tanks.

More News Like This

LNG Terminals

Wood Mackenzie: South Asia LNG demand growth derailed due to Middle East conflict

South Asian LNG markets have absorbed one of the most severe supply shocks in the history of the global gas trade, as the war in the Middle East and the closure of the Strait of Hormuz cut off Qatari and UAE LNG flows to a region that had made itself critically dependent on them, according to a new report by UK-based Wood Mackenzie.
LNG Terminals

PetroChina delivers first LNG cargo to Gate under long-term capacity deal

PetroChina International, a unit of state-owned PetroChina, has delivered its first LNG cargo to the Dutch Gate LNG import terminal in Rotterdam, owned by Gasunie and Vopak, under a long-term capacity deal.
LNG as Fuel

Vitol’s LNG bunkering newbuild nears delivery in China

Vitol’s liquefied natural gas (LNG) bunkering and supply vessel, Vivit Asia LNG, is expected to start operations later this year after completing its sea trials in China.
LNG Terminals

Shell, partners take FID on LNG Canada Phase 2

UK-based LNG giant Shell and its LNG Canada partners have made a final investment decision on the project's second phase, which will double production capacity at the facility in Kitimat, British Columbia.