Swiss trader Gunvor Group has claimed a first in terms of competitive bidding for LNG planned to be produced by the new Commonwealth LNG project in the US.
Gunvor and Commonwealth LNG have launched a tender to reserve offtake from the 8.4m tonnes per annum (mpta) facility in Louisiana.
The trader and shipowner said this is the first-ever tender process in which buyers can secure future term supply at "volumes, pricing and durations of their choosing" through competitive bidding.
