Pakistan LNG seeks Feb cargoes again after supplier unable to deliver

SINGAPORE/LONDON: Pakistan LNG is seeking two liquefied natural gas (LNG) cargoes for delivery in February, after at least one supplier was unable to deliver a scheduled cargo, two industry sources told Reuters on Tuesday.

Pakistan LNG, a government subsidiary that procures LNG from the international market, is seeking the cargoes for delivery over Feb. 15-16 and Feb. 23-24, one of the sources said.

The tender closes on Thursday, a second source said.

Pakistan LNG said on Saturday that a supplier, who had submitted the lowest offer in a buy tender that the company closed in late December, was unable to deliver a spot cargo of LNG in February.

Pakistan LNG said in its Saturday statement that suppliers had declined to make a delivery through the December tender, probably because of recent supply shortages causing spot Asian LNG prices to spike to a record high.

That tender, which closed on Dec. 28 and was valid until Jan. 11, allowed suppliers to withdraw offers within the validity period but they would forfeit a $300,000 bond, the first source said.

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