SINGAPORE: Commodity trader Vitol has placed the lowest offers for two liquefied natural gas (LNG) cargoes, which Pakistan LNG was seeking for delivery in April, according to a notice on the company website.
Vitol placed the lowest offers among three other companies, at a slope rate of 11.0522 percent against Brent crude oil for a cargo to be delivered over April 5 to 6, and a 10.8933 percent slope against Brent for a cargo to be delivered over April 19 to 20.
The prices are expressed as a "slope" of crude oil prices, a percentage of the Brent crude price, and are typically a pointer for the opaque spot LNG market.
The other companies that participated in the tender include Qatar Petroleum Trading, POSCO International Corp and PetroChina International Singapore, according to the document.
Pakistan LNG last bought three cargoes for delivery in March through an emergency tender, two of which were from Italy's ENI at a 13.6 percent slope against Brent and one cargo from Qatar Petroleum Trading at a 12.7 percent slope.
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