South Korean Firms Issue Tender for June LNG Cargo Delivery

South Korean firms Korea Midland Power Co (KOMIPO), Korea Southern Power Co (KOSPO) and SK subsidiary PRISM Energy International have issued a tender for one liquefied natural gas (LNG) cargo for delivery in June.

According to a tender issued by KOMIPO, which is leading the tender process, the buyers are seeking 3-3.6 trillion British thermal units (Btu) of LNG on a JKM-linked and delivered ex-ship (DES) basis.

The cargo is to be delivered on June 12 or June 23 to one of the Kogas-operated terminals in Incheon, Pyeongtaek, Tongyeong and Samcheok in Korea.

The JKM, or Japan-Korea-Marker, is the LNG benchmark price assessment for spot physical cargoes in Asia.

KOMIPO and PRISM Energy International are to receive 950,000 million British thermal units (mmBtu) and 720,000 mmBtu of gas, respectively, while KOSPO will receive the remaining volume of gas.

The tender will close on May 7.

(Reuters)