POSCO, SOCAR win Sept LNG supply tenders

South Korean POSCO International and Azeri state energy company SOCAR Trading have won the LNG supply tenders issued by Pakistan LNG Limited (PLL) for September 2020 deliveries.

PSOCO International offered 7.9673 percent of Brent three months average for the cargo to be delivered on September 12-13, while SOCAR Trading offered 6.9511 percent of Brent three months average for delivery to be made on September 25-26, 2020.

Separately, Pakistan LNG has bought an additional prompt cargo that it had sought for mid-August delivery at 9.3421percent to be supplied by Petro China The company had invited bids from limited suppliers for the prompt requirement due to an urgent requirement from the fertilizer sector.

Pakistan also got a spot cargo at 5.74 percent of Brent for August 27-28 delivery from SOCAR, this was the lowest Brent slope spot cargo.

PLL has been mandated by the government to carry out the business of the import, purifying, buying, storing, supplying, distributing, transporting, transmitting, processing, measuring, metering and selling of natural gas, LNG, re-gasified LNG, to meet the country’s gas requirements.