Azerbaijan's Socar Offers Lowest Bid in Pakistan LNG Tender
The trading arm of Azerbaijan's Socar – a company with no equity LNG production – has offered the lowest-cost LNG supplies for delivery late August in a tender held by Pakistan LNG, the latter said on July 28.
Socar offered to deliver the 140,000-m3 cargo for around 5.74% of Brent crude, or around $2.2/mn Btu at today's price, Pakistan LNG said. China's PetroChina offered 8.35% of Brent whereas commodities giants Gunvor and Trafigura placed bids of 7.84% and 10.38% respectively.
The cargoes are to be delivered on August 27-28. Pakistan LNG is also seeking two cargoes for delivery on September 13-14 and September 25-26. The deadline for bids in that tender is August 4.