Pakistan LNG Reissues Tender Amid Fuel Shortage and Widespread Power Outages
Pakistan LNG Limited (PLL) has reissued a tender for the purchase of liquefied natural gas (LNG) amid a fuel shortage that has led to prolonged electricity outages across the country.
The latest tender seeks a cargo delivery between September 12 and 16, after PLL rejected two earlier bids due to high prices from BP Singapore. In its first tender, BP emerged as the sole bidder, offering LNG at $26.90 per million British thermal units (MMBtu) for delivery during September 4-8.
The bid was deemed too expensive and subsequently rejected by PLL. The company then floated a second tender for a September 8-12 delivery window, but BP Singapore again emerged as the sole bidder with an offer marginally lower at $26.7128 per MMBtu. This offer was also rejected due to high prices.
The shortage of regasified LNG (RLNG) has been exacerbated by the suspension of PLL's contracted gas supplies from Qatar due to a force majeure situation, forcing the company to procure RLNG from the spot market.