BP comes out top in Argentina LNG tender

Energy giant BP has secured most of the 24 LNG cargoes sought by Argentina’s state-owned energy company IEASA for upcoming winter demand.

BP won 15 LNG cargoes while trader Gunvor will supply five shipments, Total two, and Trafigura and Naturgy will supply one cargo, each, according to Argentina’s Secretariat of Energy.

In addition, fourteen companies made bids with an average price of $6.50 per MMBtu, lower than the Secretariat of Energy expected but still much higher when compared to last year when IEASA paid less than $3 per MMBtu.

IEASA will splash $330 million for the new LNG deliveries which will arrive between May and September to cater to increased heating demand during the period.

All of the cargoes should land at Argentina’s Escobar LNG import terminal in Buenos Aires region.

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