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Latest issue of The LNG Markets
South Asia Leading Demand Recovery
Highlights of Issue :
South Asian LNG importers started looking for more LNG, leading towards pre-winter demand. India, Pakistan and Bangladesh refreshed their demand requirement. Series of buy tenders from importers from the region hit the market in last fortnight.  
Trade Overview
Pakistan's PLL awarded April buy tender at 11.05% and 10.89% of Brent prices
Unprecedented rise and fall in spot prices in Jan 2021- events unfolded and analysed
Indian major IOC, GSPC imported two spot cargoes for Mar delivery in low to mid $8
Nine spot cargoes for January delivery were cancelled by the Indian importers
 
  LNG Trade Summary
Pakistan's PLL awarded April buy tender at 11.05% and 10.89% of Brent prices
 

The state owned, Pakistan LNG Ltd (PLL) has awarded its latest buy tender for two April delivery cargoes to Vitol. The buy tender closed on Feb 4, was awarded to trading major Vitol Bahrain E.C. at 11.05% of Brent crude oil prices for delivery during April 5-6 delivery window. The second cargo for delivery during April 19-20 window was also awarded to Vitol Bahrain E.C. at 10.89%. Four suppliers had qualified as bidders and the prices offered, ranged from 11.05% to 12.18% of Brent prices for April 5-6 delivery window and for the April 19-20 delivery window prices, ranged from 10.89% to 12.50% of Brent crude oil prices.
PLL’s latest buy tender indicates a substantial drop in spot LNG prices since early Jan when prices had breached the level of $30 for some of the buyers in Northeast Asia region. South Asian region buyers, including India and Pakistan rescheduled some of their buy tenders and managed to avoid paying high prices for spot LNG. Indian buyers skipped some of their buy tenders, scheduled for delivery in Feb and part of March whereas Pakistan’s state owned PLL scrapped its buy tender for Feb and successfully closed a prompt buy tender for March at a significantly lower prices.


 
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