Argentina's Enarsa has canceled a buy tender looking for nine DES LNG cargoes between June and August, market sources said, citing lower than hoped offers as the primary reason for not awarding the tender.
Enarsa wasn't immediately available to comment on the matter.
"I think it is mainly because of the prices," said one Atlantic trader.
The tender had specified that Enarsa was seeking five cargoes for the Bahia Blanca terminal, with one in June, three in July and another in August.
As well as this, the Argentinian buyer was looking for four cargoes delivered to the Escobar terminal, with two in July and two in August.
"[Enarsa] will probably come back to the market with another tender, they got several offers but they didn't take any of the offers," said the Atlantic trader.
"The NBP was very high and the offers into Argentina would have been higher than NBP, so they would have seen numbers around $5/MMBtu or maybe above, which is very high compared to the previous tender," the trader added.
In late March, Enarsa awarded a 19 DES cargo tender for delivery between May and August. Slots were heard awarded in the low to mid $4s/MMBtu.
