State-owned Pakistan LNG said it had received no offers for its latest tender seeking bids for a total of 72 LNG shipments.
Pakistan LNG announced this two-part tender in August for one LNG cargo per month over six years. After that, it extended the bid submission deadline from September 14 to October 3 and also made some other adjustments.
However, Pakistan LNG said in an evaluation report posted on Monday it had received no offers for these cargoes.
Pakistan LNG’s five-year deal with trader Gunvor for one cargo per month expired in July this year. The company also has a deal with Italy’s Eni until 2032.
Pakistan gets most of its supplies under long-term contracts from Qatar and on the spot market, but this year prices surged and Europe took most of the available spot supplies.
The JKM LNG price for November currently trades at about $39/MMBtu.
In July, Pakistan LNG did not receive any bids for a tender seeking ten spot LNG cargoes for July-September.
Prior to this, Pakistan did not manage to secure much-needed LNG supplies to fuel its power plants in three tenders as well.
