SOCAR Trading submits lowest bid for another LNG supply to Pakistan

SOCAR Trading submits lowest bid for another LNG supply to Pakistan

BAKU, Azerbaijan, Aug.5

By Leman Zeynalova – Trend:

SOCAR Trading, the international marketing and development arm of Azerbaijan’s state oil company SOCAR, has submitted the lowest bid for liquefied natural gas supply to Pakistan on Sept. 12-13, Trend reports citing Pakistan LNG.

The company offered 6.9511 percent of Brent price leaving behind South Korea’s Posco International Corp.

This is while Posco has offered the lowest price of 7.9673 percent slope to Brent for the tender for Sept. 25-26.

The other participants of both tenders were Gunvor Singapore, PetroChina International Singapore, Trafigura and Vitol Bahrain.

Earlier, SOCAR offered the lowest price for a spot LNG cargo to Pakistan at 5.73 percent of Brent for delivery on August 27-28.

This is the equivalent to roughly $2.2 per million British thermal units. SOCAR will deliver 140,000 cubic meters of liquefied natural gas to Pakistan on August 27-28.

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Follow the author on Twitter: @Lyaman_Zeyn

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