Pakistan Floats Fresh LNG Tender After Rejecting Record-High $26.969/MMBtu Bid

پاکستان ایل این جماعت اسلامی لمیٹڈ نے ریکارڈ مہنگی 26.969 ڈالر فی ایم ایم بی ٹی یو بولی مسترد کر کے نیا ٹینڈر جاری کر دیا

Pakistan Floats Fresh LNG Tender After Rejecting Record-High $26.969/MMBtu Bid

Pakistan LNG Limited (PLL) has floated a fresh tender for the procurement of an LNG cargo after rejecting the only bid received from BP Singapore at a record-high price of $26.969 per MMBtu, top officials of the Petroleum Division said. The new tender, seeking bids for an LNG cargo containing around 140,000 cubic metres, is scheduled to appear in national newspapers on Wednesday, with bids to be opened on Friday for the delivery window of September 8-12, the officials said. The PLL board rejected BP Singapore's bid for the September 4-8 delivery window, considering the quoted price of $26.969 per MMBtu too high. "The international LNG price is around $23.18 per MMBtu, whereas the bid received was $26.969 per MMBtu. The price was considered too high, so a fresh tender has been issued," a senior official said. The fresh procurement comes as Pakistan faces growing pressure to secure additional LNG supplies amid prolonged power outages reported in several parts of the country. The government turned to the international spot market after an LNG cargo from Qatar, originally scheduled for delivery on August 25-26, failed to materialise. With tensions around the Strait of Hormuz escalating amid the US-Iran conflict, officials are facing increasing uncertainty over the availability, shipping and cost of LNG cargoes from the Gulf.