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Pakistan LNG buys LNG cargo for November delivery - sources

SINGAPORE:Pakistan LNG bought one out of two liquefied natural gas (LNG) cargoes it had sought through an emergency...
Published 08 Nov, 2021 12:24pm

SINGAPORE:Pakistan LNG bought one out of two liquefied natural gas (LNG) cargoes it had sought through an emergency tender after its long-term sellers were unable to deliver cargoes, two industry sources said on Monday.

The state-owned firm bought the cargo for delivery during Nov. 26-27 into Pakistan from Qatar Petroleum Trading at $30.65 per million British thermal units, the sources said.

Vitol and Total had also placed offers into the tender, according to a document posted on Pakistan LNG website.

Pakistan LNG did not award another cargo it had sought for delivery over Nov. 19-20 despite receiving two offers for it, and is unlikely to re-issue the tender to seek the cargo again, one of the sources said.

The company had sought the cargoes after its term suppliers commodities trader Gunvor and Italian energy group ENI could not deliver cargoes they were meant to under contractual obligations.

Gunvor could not supply the cargo because of force majeure at Equatorial Guinea's LNG plant, sources have said.

Gunvor has declined to comment on the matter.

ENI said it suffered a "disruption in the LNG supply chain originated by a third-party supplier".

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