Commodity traders place lowest bids in Pakistan LNG tender

Trading companies Vitol, Trafigura and B.B. Energy submitted the lowest bids in a tender to supply Pakistan with four liquefied natural gas (LNG) cargoes in March.

State-run Pakistan LNG launched the tender in November with four delivery windows across March.

Five companies took part in the tender including Gunvor, Vitol, Trafigura, B.B. Energy and DufEnergy, Pakistan LNG’s commercial evaluation report dated January 1 shows.

Vitol submitted the most competitive bid for the March 8-9 delivery window at 15.9147 percent of Brent. The Swiss-based trader also had the best bid for the March 22-23 window at 13.8301 percent of Brent, according to the document.

For the March 17-18 delivery window, Trafigura placed the best bid at 15.0591 percent of Brent while for the March 27-28 slot B.B. Energy had the lowest bid of 13.2701 percent of Brent.

The cargoes will be delivered on a DES basis to the recently opened Pakistan GasPort’s FSRU-based LNG import terminal at Port Qasim or such other LNG terminal within Pakistan, Pakistan LNG has previously said.

Pakistan LNG expects to award the cargoes on January 11.

LNG World News Staff