Pakistan LNG tenders: why have Gunvor and Eni gone short?
Pakistan LNG Limited closed two tenders for LNG supply in January 2017. The first called for 60 cargoes to be delivered over five years. The second called for 180 cargoes delivered over 15 years. Both tenders specified deliveries beginning in July 2017. Trading house Gunvor won the five-year tender at 11.6247% Brent. Eni offered the lowest bid for the 15-year tender, but the final deal is still in negotiation and the eventual price could be below 12% Brent.
Table of contents
What are the agreed key terms?
Who participated in the tenders – and what does this imply?
Prices quoted are a premium compared with recent Asian deals
Wide participation in short-term tender reflects an oversupplied environment
Fewer bids in the long-term tender but strong showing from traders
Eni lacks a clear source of supply
Tables and charts
This report includes 8 images and tables including:
Pakistan LNG tenders: why have Gunvor and Eni gone short?: Image 1
Reported bids for Pakistan LNG Limited in 2017
Reported bids for Pakistan State Oil in 2016
Comparison of offers to Pakistan LNG
Pakistan's contracted LNG by buyers
Pakistan's contracted LNG by seller
Cost of delivery to Pakistan
Pakistan LNG tenders: why have Gunvor and Eni gone short?: Image 5
This report contains:
Pakistan LNG tenders: Why have Gunvor and Eni gone short?