Gunvor Wins Pakistan 5-year LNG Supply Deal
File Image (CREDIT: Parker Bestobell)
Commodity trader Gunvor has won a major tender to supply approximately 60 liquefied natural gas (LNG) shipments to Pakistan over a five year period, beating a host of rivals, while Italy's Eni will supply the country with LNG over a 15-year period, a Pakistani energy official told Reuters.
Pakistan LNG launched a five-year supply tender and a 15-year tender last year to buy a combined 240 shipments of LNG, drawing a lot of interest from suppliers eager to sell gas in an oversupplied market.
Gunvor supplied the lowest bid, expressed as a percentage of a barrel of crude oil, in the five-year tender of 11.6247 percent, the official said.
Eni, which won the 15-year tender to supply approximately 180 cargoes, entered a winning bid of 12.29 percent of a barrel of crude oil.
(By Drazen Jorgic, Writing by Oleg Vukmanovic)