Pakistan turns down cheapest LNG offers

MG News | May 08, 2026 at 09:37 AM GMT+05:00

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May 08, 2026 (MLN): Pakistan has rejected the most competitively priced bids in a recent liquefied natural gas procurement drive, passing over offers from BP Singapore and TotalEnergies that came in at $17.2848 and $16.98 per million British thermal units (mmBtu) respectively, the two lowest among seven submissions received.

The bids were rejected on expectation that situation in Middle East would improve, leading to opening of Strait of Hormuz, restoring Qatari supplies.

State-owned Pakistan LNG had rushed out back-to-back tenders on Wednesday, giving suppliers just 36 hours to respond, as sweltering temperatures pushed electricity demand higher and deepened an existing power shortfall across the country.

The tenders sought two separate shipments one arriving between May 12 and 14, and another scheduled for May 24 to 26, according to well informed sources.

The first delivery window drew three competing offers: BP Singapore quoted $17.2848 per mmBtu, PetroChina came in at $17.69, and Vitol Bahrain submitted the steepest bid at $17.84.

The second window attracted four suppliers, with TotalEnergies offering the lowest price of $16.98, followed by SOCAR Trading at $17.2108, PetroChina International at $17.49, and OQ Trading at the top end with $18.58.

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