Gunvor Dominates Pakistan LNG Bid Round

Commodity trader Gunvor has put in the maximum number of bids in the latest bid round for supply of ten cargoes of LNG to state-run Pakistan LNG, according to a document published September 6 on the Pakistan LNG website.

A total of nine companies were shortlisted. In addition to Gunvor, other companies who have submitted bids are DXT Commodities, Vitol, PetroChina, Socar Trading, Trafigura, Jera, BB Energy and Eni.

Gunvor submitted bids to supply all the 10 cargoes and has made lowest offers for delivery of six, according to the document. DXT Commodities, Vitol, PetroChina and Socar Trading submitting the lowest bids for the remaining four delivery slots. The prices in this tender ranged from 8.3% of Brent crude oil prices to 10.9% of Brent.

Pakistan LNG has sought four cargoes in October, two in November and four in December. The deadline for submitting bids was September 5.