GSPC wants 6 spot LNG cargoes

Vol 19, PW 7 (03 Dec 15) News in Brief

GSPC wants to bring six LNG spot cargoes in at either Dahej or Hazira in the first half of 2016.

PETROWATCH learns GSPC received bids in a six-cargo tender on November 18. “GSPC wants one spot a month between January and June 2016,” says an LNG trader.

The tender was circulated to 28 suppliers who have signed a Master Sales and Purchase Agreement with GSPC. “GSPC is still talking one-to-one with suppliers even though the tender deadline has passed,” we hear.

GSPC also issued a tender for a cargo wanted in December. “But that was to gauge the market’s reaction,” we learn.

“Nothing came of it as the offers didn’t match its expectations.” In calendar year 2015, GSPC has till date imported 4,194,861-cubic metres of LNG across 29 term and spot cargoes.

Long-term cargoes were priced at over $8/mmbtu while spot prices ranged from $6.55-$10/mmbtu.

LNG Summit