Vitol Bahrain has offered the lowest rates to supply two April LNG cargoes to Pakistan LNG Terminal (PLL).
PLL had received lower bids for the two cargoes in the range of 10.89% to 11.05% of Brent against the tender that closed on 4th February.
With Brent trading at $58.77 per barrel at the time, a cargo for 5th to 6th April delivery was priced at $6.49 per MMBtu and the delivery for 19th to 20th April at $6.4 per MMBtu.
Four traders submitted the bids, including QP Trading, Vitol Bahrain, POSCO International Corp and PetroChina International.
PLL had received considerably lower bids for three March LNG cargoes in the range of 12.7% to 13.6% of Brent against the tender that closed on 26th January.
In India, Adani Total Gas signed a three-year deal to import LNG from French major Total.
CEO Suresh Manglani said that the gas is being procured by Adani for sale to households and small industries.