LNG

Pakistan LNG Ltd reportedly accepted a lone bid from TotalEnergies on 20 July, at $21.88 per MMBtu for a cargo nominally delivering on 27 to 28 July. It was the seventh spot purchase since QatarEnergy declared force majeure on 4 March, and the fifth procured for a July delivery window. The four before it cleared successively higher, at $16.74, $17.37, $18.23 and $20.70, the last of which was already the most expensive spot cargo Pakistan had bought since 2022. Not all of the purchased cargoes had berthed at the time of writing, according to our data.

Woodside Energy said on Monday it is not aware of any takeover proposal Exxon Mobil and is not engaged in any such discussions. There is no certainty Exxon will proceed with a bid, as both companies continue to collaborate on the Bass Strait project.

Despite a 52% surge at Europe’s TTF gas trading hub, price-sensitive Asian buyers will bear the brunt of supply constraints – rather than premium markets like Europe that are willing to bid aggressively for cargoes.

Mauritania will launch a bidding process in two weeks’ time for a 550 MW gas-fuelled power plant linked to the Greater Tortue Ahmeyim (GTA) liquefied natural gas project. The new power project will be developed and financed through a public-private partnership (PPP).

Front-month price at the TTF, Europe’s most liquid gas trading hub, is recalibrating after a bid from Egypt’s EGAS for 20 LNG cargoes for October-December delivery had tightened supply. With the EGAS tender fully awarded – at a premium to the TTF – the market is now less tense and October gas futures were last seen trading below $11.26/MMBtu.