Pakistan seeks five LNG cargoes

SINGAPORE: State-owned Pakistan LNG is seeking five liquefied natural gas (LNG) cargoes for delivery from October to November, two industry sources said on Monday. It is seeking the cargoes for delivery Oct. 8-9, Oct. 23-24, Oct. 28-29, Nov. 6-7 and Nov. 12-13, one of them said, adding that the tender closes on Sept. 2 and is valid for the same day.

This is likely a re-tender after an earlier process seeking seven cargoes for October and November garnered interest from only three companies, with offers ranging from just over $17 per million British thermal units (mmBtu) to over $22 per mmBtu, a second source said.

Vitol and Total place lowest offers for Pakistan LNG tender

Spot Asian LNG prices are currently trading at just over $18 per mmBtu for cargoes delivered into North Asia, traders have said. The earlier tender closed on Aug. 24 but remains valid until Sept. 8. It was not immediately clear if any of the cargoes in that tender had been awarded.

Separately, state-owned Pakistan State Oil (PSO) is seeking an LNG cargo for delivery over Oct. 22 to 23 in a tender that closes on Aug. 31 and is valid until Sept. 1, a tender document showed.