LONDON: Gunvor submitted the most competitive offers for five of six liquefied natural gas (LNG) cargoes sought by Pakistan LNG for delivery in July and August via a tender, according to a commercial evaluation document.
The trader, which alone among rivals competed for all six delivery slots, only lost out to trader Vitol – which vied for three slots – for the final one on Aug. 23-24, the document shows.
Trafigura submitted offers to supply a cargo in late July and late August, respectively, but its offers were undercut by rivals.
Gunvor edged ahead for deliveries on July 8-9, 19-20, 29-30, Aug. 8-9 and 13-14 with oil-linked offers, expressed as a percentage of Brent, of 15.9247, 15.9247, 17.1327, 16.9247 and 16.9247 percent, respectively.
Vitol’s offer of 15.7172 percent of Brent took the final Aug. 23-24 delivery slot.
Pakistan LNG plans to officially award the cargoes on July 2, a tender document showed.—REUTERS