Pakistan has rejected liquefied natural gas bids submitted by BP Singapore and TotalEnergies due to high prices.
State-run Pakistan LNG Limited received seven bids under urgent tenders for two delivery windows in May. BP Singapore offered a cargo at $17.28 per million British thermal units, while TotalEnergies submitted a bid of $16.98 per million British thermal units. Both offers were rejected despite being among the lowest evaluated bids.
The rejected cargoes were scheduled for delivery during May 12 to 14 and May 24 to 26. The decision comes as Pakistan remains cautious about buying expensive spot LNG amid pressure on energy costs and foreign exchange reserves.
Officials are expected to continue reviewing supply options as the country seeks to manage gas demand, electricity generation needs and import costs during the summer season.
