AsiaContracts and Tenders

Pakistan receives lower offer for May spot LNG cargo, launches another tender

By LNG Prime Staff
Pakistan receives lower offer for May spot LNG cargo, launches another tender
For illustration only (Image: Pakistan LNG)

State-owned Pakistan LNG has received a better offer from trader Vitol for one spot cargo in May, as the country looks to secure much-needed supply to fuel its power plants.

To remind, Pakistan LNG launched a prompt tender last week for one spot delivery during the May 17-18 window to secure a better price.

Prior to this tender, the company received an offer for this same delivery window from Vitol with a price of $34.6777/MMBtu as part of a larger tender for six cargoes.

According to Pakistan LNG’s evaluation report dated April 29, Vitol Bahrain, a unit of Vitol, submitted the lowest offer in the new tender with a price of $23.1297/MMBtu.

Besides Vitol, a unit of TotalEnergies offered a price of 25.2000/MMBtu and a unit of PetroChina offered a price of 25.2300/MMBtu, the document shows.

New tender

In addition to this tender, Pakistan LNG is inviting firms to submit offers for two spot LNG cargoes in June.

The first window is June 1-2 and the second includes a delivery during June 16-17.

This tender is also related to the six-cargo tender mentioned above where TotalEnergies submitted an offer of 29.0400/MMBtu for the June 16-17 delivery while there were no offers for the June 1-2 delivery.

Pakistan LNG is probably again looking to secure a lower price for the June 16-17 delivery and to get offers for the June 1-2 delivery.

The new tender closes on May 11.

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