BAKU, Azerbaijan, Dec.29
By Leman Zeynalova – Trend:
Azerbaijan’s state oil company SOCAR came up with the lowest bid for liquefied natural gas (LNG) supply to Pakistan for February 15-16, 2021 at 20.8483 percent of Brent, which is equal to $10.5 per MMBTU, Trend reports with reference to Pakistani media.
ENOC appeared with the lowest bid for the time slot of February 23-24 at 23.4331 percent of Brent (equal to $11.70 per MMBTU).
“The government obtained the LNG prices at more than the diesel price as LNG cargoes are already booked across the globe. Had the government arranged the bidding for spot cargos for winter back in August-September 2020, it would have attracted better prices,” independent industrial sources told The News.
Earlier, SOCAR told Trend that today the company buys and sells LNG over a very wide geography, including the Mediterranean basin, Asia and other regions. LNG is purchased from third parties and forms part of the company’s trade with third parties and buyers. This product is not exported from Azerbaijan due to the lack of direct sea access of Azerbaijan to the world ocean.
SOCAR regularly supplies hydrocarbons to Pakistan and intends to continue this cooperation in the future.
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