Vitol to supply one spot LNG cargo to Pakistan

A unit of commodity trader Vitol has placed the only bid in a tender to supply Pakistan with two spot LNG cargoes in July.

State-owned Pakistan LNG issued a tender on June 4 seeking two 140,000-cbm cargoes for delivery on July 8-9 and July 12-13.

However, Vitol Bahrain placed an offer for only the second delivery window. The trader offered a price of $12.7777/MMBtu, Pakistan LNG’s evaluation report dated June 8 shows.

For comparison, Vitol submitted an offer with a price of $11.6612/MMBtu for the same window in the previous tender for nine spot LNG cargoes over the July-August period.

In that tender, Vitol submitted the most competitive bids for the July 12-13 delivery but also for August 12-13, and August 17-18. Trafigura offered $11.7747/MMBtu for the July 8-9 delivery.

Both Trafigura and Vitol were the only bidders for the July 8-9 and July 12-13 slots.

Pakistan LNG did not provide any additional information on why it launched another tender in a short period for the same two slots.

The firm has probably awarded seven out of the nine cargoes in the previous tender and launched another tender hoping to get better prices for the two shipments.

If approved, Vitol would deliver the sole July cargo to the FSRU BW integrity serving Pakistan GasPort’s terminal in Port Qasim, Karachi.

- Advertisements -

Most Popular

Report: NYK to order 12 LNG-powered car carriers

Japan’s shipping giant NYK reportedly plans to order twelve LNG-powered car carriers at two compatriot yards. NYK would invest over...

Denmark’s Celsius welcomes new LNG carrier

South Korea’s Samsung Heavy has delivered the third out of four LNG tankers the yard is building for Denmark’s...

Wallenius SOL’s LNG-powered duo nearing launch in China

Chinese yard CIMC Raffles in Yantai is moving forward with the construction of two LNG-powered RoRo vessels for Sweden’s...

More News Like This

Tellurian signs 10-year LNG supply deal with Vitol

US LNG export project developer Tellurian has signed a 10-year deal with trader Vitol to supply liquefied natural gas...

Six players submit lowest bids in Pakistan LNG tender

Six international firms have submitted the lowest bids in a tender to supply Pakistan with nine spot LNG cargoes...

Pakistan issues tender for nine spot LNG cargoes

State-owned Pakistan LNG has released a new tender inviting firms to submit bids for a total of nine cargoes...

Russia looks to supply Pakistan with LNG

Energy-hungry Pakistan could start receiving LNG supplies from Russia in the future, according to Russian Foreign Minister Sergei Lavrov. Lavrov...