How to Place a Bid in Pay-As-Bid Auctions?

Modified on: Thu, 4 Apr, 2024 at 9:13 AM



If a Pay-As-Bid offer is active, you can place a bid whenever the auction is open. To do so, you will first need an approved assignment to the LSO who is marketing this product. 

To gather more information about the algorithm, please refer to Pay-as-bid Algorithm.


To submit your bid, do as follows: 

1. Log into your account; 

2. Click on LNG;

3. Click on LNG Offers;  

4. Now, on the offer page, click on "Details" in the row of the offer in which you would like to participate:

5. In the bidding screen, you need to specify a minimum and a maximum number of Main Service Packages (MSP) you would like to acquire and the price you are willing to pay.

Note: if the LSO has set a reserve price, you will need to enter a price which is higher than or equal to the reserve price.

6. If available, you can also request "Additional Services". For each additional service, you can request a number per main service package you are bidding for at a price fixed by the operator.

For example, if you are requesting a maximum of eight main service packages and one additional unloading component for main service package, you are requesting a total of 8 additional unloading services.

7. After you have entered the details of your bid, accept the LSO's General Terms and Conditions before you confirm it by clicking on "Submit Bid".

8. A confirmation box will pop up, summarizing the bid details and explicitly stating the maximum total bid price in the terminal's currency. If you wish to proceed with placing the bid, click on "Confirm Bid", otherwise select the X in the top-right corner to go back to the bidding screen.

The total amount of a bid consists of the Max Amount x (Main Service Price + Additional Service Price x Amount of Additional Service).

In this example, 8x(54+45x1)=792 EUR

If you are bidding in the unit of a main service component, the total price will be calculated as follows: Max Amount x (Main Service Price/Unit x Number of Units in the service component + Additional Service Price x Amount of Additional Service).

In the example below, it's 8x(0.60x9+45x1)=403.2 EUR

9. After you have confirmed your bid, you will find it in the offer details page and you can edit or delete it as long as the bidding window is still open:

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