December 10, 2019 / 2:12 PM / 7 months ago

UPDATE 1-Turkey's Botas seeks about 30 cargoes in large LNG tender -sources

(Adds trader’s comments)

SINGAPORE/LONDON, Dec 10 (Reuters) - Turkish state energy company Botas is seeking about 30 liquefied natural gas (LNG) cargoes for delivery over December to March, three industry sources said on Tuesday.

It is seeking three cargoes for December, 12 cargoes in both January and February and four for March, one of the sources said.

Offers for cargoes to be delivered in December are due by Dec. 10 and offers for the rest are due by Dec. 11, the source added.

A gas trader in Turkey said that such a large tender is a result of low prices, with LNG much cheaper than gas in Turkey’s pipeline contracts.

Spot LNG in Asia is at a record low for this time of the year, at about $5.50 per million British thermal units (mmBtu).

Dutch gas for January delivery, a European benchmark, is even lower at about $4.70/mmBtu.

The tender aims to capitalise on the low prices, the trader said, adding that Russian gas is around levels of $8.50-$8.70/mmBtu. (Reporting by Jessica Jaganathan in SINGAPORE and Ekaterina Kravtsova in LONDON Editing by David Goodman Editing by Louise Heavens and David Goodman)

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