Pakistan Rejects High-Price LNG Bid Amid Disrupted Supplies

Pakistan has rejected a sole bid for an emergency liquefied natural gas (LNG) cargo due to its high price. The bid, submitted by BP Singapore, offered $26.969 per million British thermal units (MMBtu), which was higher than expected.

The rejection comes as Pakistan struggles to cover energy requirements amid disruptions caused by the US-Iran conflict, which has halted production at QatarEnergy's main facilities in March. This has forced Islamabad to turn to the spot market to cover part of the shortfall.

Pakistan relies heavily on imported LNG to fuel gas-based power plants, and disruptions to supplies from Qatar are particularly significant during the summer months when electricity demand is high.