Islamabad rejects all bids for two LNG cargoes as prices fail to meet budget constraints during an acute supply crisis.
Pakistan has rejected all seven bids submitted for an urgent tender to purchase two liquefied natural gas cargoes, citing unacceptably high prices. The tender, launched earlier this month, sought deliveries later in June as the country grapples with severe gas and power shortages due to disrupted Middle Eastern supplies.
The bids came from major traders including BP, Vitol, TotalEnergies, SOCAR Trading, and OQ, but none met Pakistan’s pricing expectations. The rejection underscores the country’s worsening energy crisis, with authorities struggling to secure affordable fuel amid rising global costs.
No immediate market reaction was reported, though the decision may force Pakistan to seek alternative solutions or delay critical energy imports.