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SOCAR offers lowest LNG price to Pakistan

Oil&Gas Materials 29 July 2020 12:56 (UTC +04:00)

BAKU, Azerbaijan, July 29

By Leman Zeynalova – Trend:

Azerbaijan’s state oil company SOCAR has offered the lowest price for a spot liquefied natural gas (LNG) cargo to Pakistan at 5.73 percent of Brent, Trend reports.

This is the equivalent to roughly $2.2 per million British thermal units, Kallanish Energy reports citing Pakistan LNG.

The cargo will be delivered on August 27-28, contracted at a delivered ex-ship basis.

The Pakistani state-owned LNG firm also received quotes from other three suppliers. The bid from Trafigura was at a rate of 10.38 percent on Brent oil prices, followed by 8.35 percent from PetroChina and 7.84 percent from Gunvor.

Pakistan LNG has been mandated by the Pakistani government to carry out the business of buying, importing, storing LNG, distributing, transporting, metering and selling of natural gas.

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Follow the author on Twitter: @Lyaman_Zeyn

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