Pakistan LNG receives no offers for Dec-Jan buy tender

SINGAPORE: Pakistan LNG did not receive any offers in a tender seeking eight liquefied natural gas (LNG) cargoes for delivery over December to January, a document posted on the company website showed.

The state-owned company had issued the tender last month, with offers due by Oct. 11 and to remain valid until Oct. 26.

Spot LNG prices are trading near record levels against the backdrop of power shortages in China and India.

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The reason for the lack of offers for the Pakistan tender could be because of the validity period of 15 days, which one industry source said is too long given current price volatility. It was not immediately clear if Pakistan LNG will re-issue the tender.