ISLAMABAD: Pakistan on Thursday rejected the two lowest evaluated LNG bids from BP Singapore and TotalEnergies, priced at $17.28 and $16.98 per million British thermal units (mmBtu), respectively, for delivery next week and in the last week of the current month.
State-run Pakistan LNG Limited (PLL) received a total of seven bids — three cargoes for May 12-14 and four for May 24-26 — against urgent tenders floated a day earlier.
For the first cargo, PetroChina bid $17.69 per mmBtu, BP Singapore $
Turning down inflated bids is the right call. We can’t keep accepting overpriced LNG contracts.
Energy policy needs long-term planning. Spot market purchases are always going to be expensive.
Two lowest bids rejected means we’re playing hardball. Hope the strategy pays off for consumers.
With global gas prices fluctuating, maybe waiting is smart. But power outages will hurt the economy.