Pakistan LNG cancels huge 10-year LNG tender

[mhafeez]

* Tender cancelled due to inadequate demand - source

* Co to turn to spot imports instead - source

By Jessica Jaganathan

SINGAPORE, Oct 15 (Reuters) - State-owned Pakistan LNG has cancelled a tender to buy liquefied natural gas over a 10-year period and may turn to the spot market instead, two sources familiar with the matter told Reuters on Tuesday.

The company issued the tender in early June to import 240 LNG cargoes of 140,000 cubic metres each for delivery over 10 years for the country’s second LNG terminal.


But it has decided to cancel the tender due to inadequate demand for the super-chilled fuel, one of the sources said.

“(The company) has decided not to proceed with technical evaluation and opening of commercial offers as there is no demand against this tender,” the source added, declining to be identified.

“So for now, (the company) has decided to stop the process of long-term commitment until it receives long-term demand for LNG,” the source said.


Pakistan is expected to be a significant growth driver in global LNG demand with the cabinet recently approving five consortiums to progress with their LNG terminal plans.

Pakistan LNG’s cancelled tender had been keenly watched in the industry. The company was expected to publish the lowest prices offered by bidders, providing a valuable insight into the opaque LNG market, which is characterised by closed bilateral trades, private long-term supply agreements and an over-the-counter spot market.

Italy’s Eni, China’s PetroChina, Azeri state oil company SOCAR and commodities trader Trafigura had placed offers into the tender, sources had told Reuters.

RPT-UPDATE 1-Pakistan LNG cancels huge 10-year LNG tender -sources

State-owned Pakistan LNG has cancelled a tender to buy liquefied natural gas over a 10-year period and may turn to the spot market instead, two sources familiar with the matter told Reuters on Tuesday.

www.reuters.com

 

[mhafeez]

سوال یہ ہے کہ جب ڈیمانڈ نہیں ہے تو پانچ نئے ٹرمینل کیوں لگا رہے ہیں؟؟

Exxon Mobil, Shell among groups picked to build five Pakistan LNG terminals

Pakistan has selected groups that include Exxon Mobil Corp and Royal Dutch Shell...

www.reuters.com

 

[Will_Bite]

Installing plants, and buying LNG are 2 different activities.
Sort of like when PMLN govt installed new power plants, even though the current capacity was beyond the needs of Pakistan. Plant construction takes due time

 

[mhafeez]

Installing plants, and buying LNG are 2 different activities.
Sort of like when PMLN govt installed new power plants, even though the current capacity was beyond the needs of Pakistan. Plant construction takes due time

ٹینڈر کھلنے اور اس پر عمل ہونے میں بھی ٹائم اور پیسہ لگتا ہے
کیا حکومت کو کوئی خوف ہے یا اسے وہ قیمت نہیں مل رہی جو نون لیگ نے حاصل کرلی تھی
سپاٹ پرچیز اس وقت درست ہے جب آپ نے سٹاک بنانا ہو اور قیمتیں کم ہورہی ہوں لیکن اب تو قیمتیں بڑھ رہی ہیں​

 

[Wake Up Pakistan]

ٹینڈر کھلنے اور اس پر عمل ہونے میں بھی ٹائم اور پیسہ لگتا ہے
کیا حکومت کو کوئی خوف ہے یا اسے وہ قیمت نہیں مل رہی جو نون لیگ نے حاصل کرلی تھی
سپاٹ پرچیز اس وقت درست ہے جب آپ نے سٹاک بنانا ہو اور قیمتیں کم ہورہی ہوں لیکن اب تو قیمتیں بڑھ رہی ہیں​

No demand of LNG in Country

NOOOORAS ONLY DEAL FOR CRRUPTION

 

[Eyeaan]

سوال یہ ہے کہ جب ڈیمانڈ نہیں ہے تو پانچ نئے ٹرمینل کیوں لگا رہے ہیں؟؟

Exxon Mobil, Shell among groups picked to build five Pakistan LNG terminals

Pakistan has selected groups that include Exxon Mobil Corp and Royal Dutch Shell...

www.reuters.com

As I figured out from the news; they had expected demand (that's why tender was issued at the first place) however currently there is not enough and they also they lack reliable assessment for the near future, .which is subject to economic outlook in the near future ; so they decided for the spot market for the present than to get into a long-term commitments. I guess the current prices in spot market is the final reason for this decision.

 

[mhafeez]

No demand of LNG in Country

NOOOORAS ONLY DEAL FOR CRRUPTION

LNG produces cheaper electricity than furnace oil, and it is more clean for envoirnment. PMLN replaced furnace oil power plants with LNG power plants. There was no corruption in these schemes.

 

[mhafeez]

As I figured out from the news; they had expected demand (that's why tender was issued at the first place) however currently there is not enough and they also they lack reliable assessment for the near future, .which is subject to economic outlook in the near future ; so they decided for the spot market for the present than to get into a long-term commitments. I guess the current prices in spot market is the final reason for this decision.

ایل این جی کے سب سے بڑے خریدار ٹیکسٹائل اور پاور پلانٹس ہیں ، اگر انرجی کی ڈیمانڈ کم ہوگئی ہے تو اس کا مطلب ہے کہ ملک میں کاروبار کم ہورہا ہے ، یہ کسی طور پر بھی ملک کیلئے درست نہیں ہے​

 

[Hate_Nooras]

LNG produces cheaper electricity than furnace oil, and it is more clean for envoirnment. PMLN replaced furnace oil power plants with LNG power plants. There was no corruption in these schemes.

Every single thing they ever did was corrupt- there isnt a single clean person in the whole of the PML. Even the PPP have more honest people.

 

[Eyeaan]

ایل این جی کے سب سے بڑے خریدار ٹیکسٹائل اور پاور پلانٹس ہیں ، اگر انرجی کی ڈیمانڈ کم ہوگئی ہے تو اس کا مطلب ہے کہ ملک میں کاروبار کم ہورہا ہے ، یہ کسی طور پر بھی ملک کیلئے درست نہیں ہے​

ہر نتیجہ اپنی مرضی کا نہ نکال لیں ۔۔۔ فیوچر کا حساب کچھ مفروضوں( ریٹ آف گروتھ وغیرہ) پر کیا گیا ہو گا جو کہ شروع سے ہی یا موجودہ طور درست نہیں تھا۔ یا مکمل علم نہ تھا ۔۔ آپ یا میں کس بات میں پڑے ہیں ، کمپنی کے انیلسٹس جنہون نے حساب کیا اور سپاٹ مارکیت کا اندازہ لگایا وہی واضح کریں گے مگر اتنا اعتماد ہے کہ یہ فیصلہ نیک نیتی سے لیا گیا ہو گا جو کمپنی اورقوم کے مفاد میں ہو گا

 

[Wake Up Pakistan]

LNG produces cheaper electricity than furnace oil, and it is more clean for envoirnment. PMLN replaced furnace oil power plants with LNG power plants. There was no corruption in these schemes.

MUNNNAAA OIL WALAY POWER PLANT LNG PAI KARNAY PARTAY HAI

IT COST LOTS OF MONEY

SOOO JAAAA SIYASAT TERAY BAS KE BAAT NAHEE

 

[mhafeez]

MUNNNAAA OIL WALAY POWER PLANT LNG PAI KARNAY PARTAY HAI

IT COST LOTS OF MONEY

SOOO JAAAA SIYASAT TERAY BAS KE BAAT NAHEE

آئل والے پلانٹ اپنی مدت پوری کرچکے تھے ، انہیں تبدیل ہی کرنا تھا

 

[Wake Up Pakistan]

آئل والے پلانٹ اپنی مدت پوری کرچکے تھے ، انہیں تبدیل ہی کرنا تھا

KIS NAY KARNA HAI

KAROO ASK PRIVATE SECTOR TO DO IT

THEN WE WILL IMPORT LNG BUT NOW THERE IS NO DEMAND

MR ALOOOOU