Pakistan could be in for a rough ride as the country failed to find any bids for its two-part tender for the import of liquefied natural gas (LNG).
According to Bloomberg journalist Stephen Stapczynski, no supplier participated in Pakistan’s tender to buy LNG for 4-6 years from 2023.
Pakistan was unable to secure long-term LNG supply, threatening to prolong its fuel shortage 🇵🇰⚠️
🙅 No supplier participated in Pakistan’s tender to buy LNG for 4-6 years from 2023. Deadline was today
🚢 This highlights how there is little spare LNG supply until at least 2026 pic.twitter.com/zIJK8aqIY6
— Stephen Stapczynski (@SStapczynski) October 3, 2022
State-owned Pakistan LNG Limited (PLL) had issued a two-part tender in August inviting firms to submit bids for a total of 72 LNG shipments for delivery over a period of six years.
Under the first part, bids were invited for 12 LNG cargoes (1 LNG cargo per month) for December 2022 to December 2023 delivery period.
Under the second part, bids were invited for 60 LNG cargoes (1 LNG cargo per month) for January 2024 to December 2028 delivery period.
Under the terms of the tender, it was mandatory for the bidder to submit price proposals for both of the delivery periods.