LNG FOR PAKISTAN
NGW - Gunvor and Eni have won contracts to supply LNG to Pakistan.
Pakistan LNG Limited opened the financial bids for the supply of 240 shipments of LNG January 19. Gunvor has bagged a five-year contract to supply 60 shipments while Eni has been awarded a 15-year contract to supply 180 shipments.
Gunvor, headquartered in Geneva, quoted 11.62% of the $/b crude oil value as its $/mn Btu LNG price for the short-term LNG supply contract whereas Italy's Eni offered to bring LNG over the long run at 12.29% of the crude oil price.
This will be the Swiss commodity trader's second LNG supply contract in Pakistan. It has a contract to supply 100mn ft3/d of LNG to Pakistan State Oil. At present, PSO is importing 400mn ft3/d under long- and short-term supply contracts.
Pakistani energy minister Shahid Khaqan Abbasi revealed around 15 companies participated in bidding for the short-term contract whereas five companies took part in the long-term bidding.
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