Energy company cancels tender for winter LNG cargoes

8/12/2019

Turkish state energy company Botas has cancelled its tender for delivery of four liquefied natural gas (LNG) cargoes over the coming winter, two trade sources said.

The tender, which closed on Aug. 8, will be reissued in September with the same conditions, the sources said.

Traders said that Botas is likely to be analysing the market to see what prices it can buy at and estimate what LNG volumes it can import over the winter.

Turkey has increased its LNG purchases this year amid falling LNG prices, resulting in a significant reduction to its pipeline imports from Russia’s Gazprom.

So far this year Turkey has imported 5.52 million tonnes of LNG, up 15% from the same period last year, Refinitiv Eikon data shows. (Reporting by Ekaterina Kravtsova Editing by David Goodman)