Pakistan Rejects Another Expensive LNG Bid Amid Global Price Surge

Pakistan has once again rejected a spot liquefied natural gas (LNG) bid from British Petroleum Singapore due to soaring international prices and heightened shipping risks. The country's PLL board decided to reject the bid of $26.7128 per million metric British thermal units (MMBtu) for delivery between September 8-12.

The latest rejection comes after Pakistan LNG Limited (PLL) also turned down another BP Singapore offer of $26.969 per MMBtu earlier this week for a delivery window from September 4-8. The board cited the bid as 'too high' in its decision-making process.

As LNG prices and associated shipping costs continue to climb, Pakistan is facing a difficult balancing act between securing additional LNG supplies and avoiding cargoes that could further inflate the country's electricity-generation costs.