Bidders swarm over Pakistan LNG’s 240 cargo tender

Bidders swarm over Pakistan LNG's 240 cargo tender

The state-owned Pakistan LNG’s tender seeking 240 cargoes of liquefied natural gas in total has attracted a lot of attention from suppliers struggling to sell cargoes in an oversupplied market. 

In an interview with Reuters, Adnan Gilani, Pakistan LNG’s COO, said that the response has been beyond the company’s expectations. He noted that over 20 suppliers attended the bidders conference with at least another 10 showing interest in the tender.

Gilani also added that the company is planning to launch a 4.5 million tons LNG tender within a few months with another similar tender coming six months later.

Pakistan is expected to be importing about 23 million tons of LNG per year by 2019.

In its tender, issued at the beginning of this month, Pakistan LNG sought the delivery of 240 cargoes through two separate tenders.

In the first tender, the company is inviting bids from LNG suppliers for the delivery of 60 cargoes through a master sale and purchase agreement over a period of five years.

In the second tender, Pakistan LNG is looking for the supply of 180 cargoes delivered over a period of 15 years.

Cargoes, under both tenders, are to be delivered on a DES (delivered ex-ship) basis to the LNG terminal operated by Pakistan GasPort Consortium at Port Qasim, the company said.

The start of the deliveries is set for July 2017, with a nominal cargo capacity set at 140,000-cbm, according to the documents.

The deadline for the submission of bids is December 20, 2016, while winners of both tenders are to be announced at the end of January 2017.

 

LNG World News Staff

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