Pakistan LNG drops tender due to high prices

State-owned Pakistan LNG has reportedly canceled its tender seeking six liquefied natural gas cargoes for July and August delivery. 

Citing industry sources, Reuters reports the tender has been canceled as the company was not satisfied with the high prices offered by the bidders.

It is unlikely the tender will be issued as the demand for power production is fluctuating and there is no urgent need for cargoes by power plants.

At the end of June, Pakistan LNG issued a similar tender seeking five cargoes for September and October delivery.

The cargoes will be delivered on a DES basis to the Port Qasim, where two Pakistan’s LNG receiving facilities are located.

LNG World News Staff