Lowest Bids in Pakistani Tender Reported to be from Big Traders

11 January 2017: Major trading houses submitted the lowest bids to Pakistan LNG Ltd.’s (PLL) five-year buy tender for 60 cargoes beginning in July 2017. Most of the bids were at a 12% slope to a three-month rolling average of ICE Brent, and the lowest bid is understood to be at an 11.9% slope to ICE Brent with no constant. The tender is understood to have been closely contested by two trading houses. Bidders in the five-year tender are Gas Natural Fenosa, SK, Engie, Gunvor, Eni, Petronas, Shell, Gazprom, CNOOC, OTI, Trafigura, Glencore, Noble and Gunvor. Please fill out the form to access the full article.