South Korea’s Posco set to supply LNG to Pakistan for first time: Report

ISLAMABAD/SINGAPORE (Reuters) – South Korea’s POSCO International Corp is set to supply liquefied natural gas (LNG) to Pakistan LNG for the first time, two sources familiar with the matter said.

Posco offered the lowest bid of 7.9673% of Brent crude oil prices for the supply of an LNG cargo into Pakistan delivered over Sept. 12 to 13, according to a notice posted on Pakistan LNG’s website.

SOCAR Trading placed the lowest offer of 6.9511% of Brent crude oil prices for another LNG cargo to be delivered over Sept. 25-26, according to the notice.

It is unusual for Posco to participate in Pakistan LNG’s import tender and could be the South Korean company trying to expand its third-party trading activities, according to an industry source.