Pakistan LNG cancels 10-year LNG tender

Published by David Rowlands, Editor
LNG Industry, Tuesday, 15 October 2019 15:00

According to Reuters, Pakistan LNG has cancelled a tender to purchase 240 LNG cargoes (140 000 m³ each) over a period of 10 years due to insufficient demand for the fuel.

Instead, Reuters reports, the company may turn to the sport market. The tender was originally issued in early June this year, and would have seen the cargoes delivered to the country’s second largest LNG terminal.

According to Reuters, one source with knowledge of the matter said: “(The company) has decided not to proceed with technical evaluation and opening of commercial offers as there is no demand against this tender.

“So for now, (the company) has decided to stop the process of long-term commitment until it receives long-term demand for LNG.”

Sources told Reuters that Eni, PetroChina, SOCAR and Trafigura had all placed offers into the tender.

Read the article online at: https://www.lngindustry.com/lng-shipping/15102019/pakistan-lng-cancels-10-year-lng-tender/

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