Pakistan Rejects LNG Bids as Energy Crisis Deepens

AI Summary

Pakistan has rejected bids for liquefied natural gas (LNG) cargoes due to insufficient pricing amid an escalating energy crisis. This decision underscores the challenges the country faces in securing energy supplies from international markets.

Pakistan has rejected the lowest bid under an urgent tender for two liquefied natural gas cargoes launched earlier this month. The country received a total of seven bids, none of which were apparently priced low enough. Pakistan on Wednesday issued a tender seeking to urgently buy two LNG cargoes for delivery later this month as the country struggles to cope with a gas and power crisis amid disrupted LNG supplies from the Middle East. In response, it received bids from BP, Vitol, TotalEnergies, Azerbaijan’s SOCAR Trading, Emirati-based OQ…