Pakistan LNG buys three cargoes for March delivery
- Pakistan LNG, a government subsidiary that procures LNG from the international market, also bought one cargo from Qatar Petroleum Trading for delivery over March 24 to 25 at a slope rate of 12.7%, they said.
SINGAPORE: Pakistan LNG has bought three liquefied natural gas (LNG) cargoes for delivery in March through an emergency tender it issued last week, two industry sources said on Wednesday.
It bought two cargoes for delivery over March 11 to 12 and March 18 to 19 from Italy's ENI at a percentage of the Brent crude oil futures price, known as a slope rate, of 13.6%, they said.
Pakistan LNG, a government subsidiary that procures LNG from the international market, also bought one cargo from Qatar Petroleum Trading for delivery over March 24 to 25 at a slope rate of 12.7%, they said.
Pakistan LNG issued emergency tenders last week after at least one supplier was unable to deliver a scheduled cargo and as record high spot LNG prices due to freezing temperatures in North Asia forced emerging economies to ration gas.
Spot prices are now falling due to warmer temperatures denting gas demand and more supply entering the market, traders said.
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