• Gunvor, DXT lowest bidders in Pakistan LNG tender

    Trading houses Gunvor and DXT Commodities made the lowest bids to supply liquefied natural gas to Pakistan between May and June of this year in a six-cargo tender, according to Pakistan LNG tender documents on Wednesday.

    The documents showed DXT had the lowest bids for a cargo for May 1-2 delivery at 9.2783 percent of Brent crude oil prices, for May 27-28 delivery at 9.6816 percent and for June 29-30 delivery at 9.9201 percent.

    Gunvor had the lowest bids for a May 11-12 cargo at 9.5739 percent, May 16-17 at 9.7270 percent and June 14-15 at 9.9387 percent.

    The prices, expressed in the document as crude oil slope or the numerical percentage of Brent crude price, are a valuable pointer for the opaque LNG market.

    A cargo priced at 9.3 percent of Brent is about $6.23 per million British thermal units (mmBtu). Spot Asian prices for April were heard last week at $5.70 and below $6 for May.

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