Posco set to win first deal to supply LNG to Pakistan - sources (updated)

Posco International

05/08/2020 08:42

(Add winners, price details)
    By Gibran Naiyyar Peshimam and Jessica Jaganathan
    ISLAMABAD/SINGAPORE, Aug 5 (Reuters) - South Korea's Posco
International Corp  047050.KS  is set to become a liquefied
natural gas (LNG) supplier to Pakistan LNG, two sources familiar
with the matter said.
    Posco has offered lowest bid of 7.9673% slope to Brent for a
supply of LNG cargo on Sept. 25-26, the sources said, adding
that Socar Trading submitted the lowest bid for a Sept. 12-13
LNG import tender.
    It is unusual for Posco to participate in Pakistan LNG's
import tender and could be the South Korean company trying to
expand its third-party trading activities, according to an
industry source. 
    A formal announcement on winners will be made later in the
day. No immediate comment was available from Pakistan LNG.
    Six companies were technically qualified for an import
tender by Pakistan LNG to buy two cargoes of liquefied natural
gas (LNG) for delivery in September, according to a notice on
the company's website.
    The six companies qualified among 11 offers that were placed
into the tender, according to the notice.
    Gunvor Singapore, PetroChina International Singapore,
Trafigura, Vitol Bahrain were the other companies that
participated in the tender.

 (Writing by Nidhi Verma, editing by Louise Heavens)
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