SOCAR to help Pakistan overcome gas crisis

The State Oil Company of Azerbaijan (SOCAR) will support Pakistan to settle its natural gas crisis, Report informs, citing Pakistani press.

Pakistan is likely to face a significant gas crisis in January 2021 as international LNG suppliers did not offer bids for the first half of January and at higher rates for the second.

Pakistan has already applied for importing LNG cargo for January-February next year, and the winners have been determined.

SOCAR offered bids at 20.4832% of Brent for the last time slot of January 29-February 1, 2021. Trafigura proposed for two slots of January 20-21 at 27.2727% of Brent and for January 29 to February 1 at 33.9499% of Brent.

Energy Asia/ENOC gave the bid at 24.8888% of Brent, and Vitol suggested for the last time slot at 24.4321% of Brent for January 29 to February 1.

Qatar Petroleum was the company that offered the cheapest LNG at the auctions. Thus, the Qatari company will bring LNG batches to the country three times. The company has provided LNG cargo at 17.3203% of Brent for January 20-21, 17.3207% for January 26-27, and 15.3209% for January 29-February 1.