London: Pakistan has issued a tender for the purchase of five cargoes of liquefied natural gas (LNG) – scheduled for delivery in January 2020 – a news source reported.
The delivery windows have been set for January 6-7, 11-12, 16-17, 23-24, and 28-29. The offers have to be submitted by November 26.
According to reports, the Asian spot prices for LNG slipped this week – weighed by global oversupply and rising floating storage – which offset some buying interest and plant maintenance.
The average LNG price for December delivery into northeast Asia was estimated at $6.30 per million British thermal units (MMBTU), $0.50/MMBTU down from last week.
Buyers from Japan, South Korea and Pakistan came to the market looking for winter cargoes, but market sources said it was not enough to reduce a significant global oversupply; adding that the market had overpriced in recent weeks.
The number of vessels floating with cargoes on board soared to 28 from 19 in the past week.
