Socar, Enoc make lowest bids in Pakistan LNG tender

Units of Azerbaijan’s Socar and UAE’s Enoc have submitted the lowest bids in a tender to supply Pakistan with two LNG cargoes in February.

State-owned Pakistan LNG launched the tender in November with two delivery windows spanning from February 15-16 and February 23-24.

Additionally, five companies took part in the tender including Socar Trading (UK), Emirates National Oil Company (Enoc) Singapore, Total Gas & Power, Trafigura, and Gunvor Singapore.

The bid by Total’s unit did not technically qualify for the tender, Pakistan LNG’s evaluation report dated December 28 shows.

All of the offers are oil-linked, expressed as a percentage of the Brent crude oil price.

The report shows that Socar submitted the most competitive bid at 23.4331 percent of Brent for the first window.

Furthermore, Enoc offered a slope rate of 20.8483% for the second window. The firm did not submit an offer for the first window, according to the report.

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.

The Port Qasim currently hosts two LNG import facilities both utilizing floating storage and regasification units.

The country’s first terminal started operations back in 2015 utilizing Exclerate’s FSRU while the second floating LNG import facility uses FSRU BW integrity.

- Advertisements -

Most Popular

Aramco to buy stake in EIG’s LNG unit MidOcean Energy

Energy behemoth Saudi Aramco has agreed to buy a minority stake in MidOcean Energy, the LNG unit of US-based...

TotalEnergies CEO: LNG driving growth

TotalEnergies will continue to grow its LNG business as the demand for the fuel rises due to the transition...

Pakistan launches tender for two spot LNG cargoes

State-owned Pakistan LNG has released a tender inviting firms to submit bids for two spot shipments for delivery in...

More News Like This

Pakistan launches tender for two spot LNG cargoes

State-owned Pakistan LNG has released a tender inviting firms to submit bids for two spot shipments for delivery in...

Pakistan inks LNG deal with Azerbaijan’s Socar

State-owned Pakistan LNG has signed a deal to buy liquefied natural gas from Azerbaijan's Socar. The framework deal was signed...

Trafigura offers two spot LNG cargoes to Pakistan

State-owned Pakistan LNG has received offers for two spot liquefied natural gas shipments from energy trader Trafigura following a...

QatarEnergy pens long-term condensate supply deal with Enoc

LNG giant QatarEnergy has signed a long-term condensate supply deal with a unit of Dubai-based Emirates National Oil Company. Under...