Pakistan Rejected LNG Tender Over Price
Pakistan is facing a severe electricity crisis after rejecting an emergency tender for liquefied natural gas (LNG) due to high prices. The country's state-owned Pakistan LNG Ltd. scrapped the tender, which was meant to replace supply disrupted by the closure of the Strait of Hormuz.
The sole offer received from BP Plc was priced at $27 per million British thermal units (BTUs), nearly three times the pre-war spot levels. This price was deemed too expensive by the government, and they may reissue the bidding process.
The rejection of this tender has left Pakistan facing a worsening electricity crunch, with the country struggling to meet its energy demands. The Strait of Hormuz closure has already disrupted LNG supplies to several countries, including Pakistan.