PLL reissues LNG tender as Pakistan faces electricity crunch: Bloomberg

Pakistan LNG Ltd (PLL) has reissued its LNG tender and is seeking a cargo to arrive before September 12, according to Business Recorder, citing Bloomberg. Bids close on Friday. PLL had turned down the sole bid, from BP Plc, which sought $27 for every million British thermal units, roughly three times pre-war levels.

Bloomberg indicated that the government may have to keep blackouts going in the evening unless immediate supplies are secured. The energy shortage linked to the continuing US-Iran conflict has interrupted deliveries from Qatar, the country's largest LNG source, which extended its force majeure declaration last week. Separately, Pakistan's Power Division indirectly blamed the Petroleum Division for drawn-out outages, citing a lack of RLNG for three power plants in Punjab that run on it.

Sources familiar with the matter told Business Recorder that PLL was forced to buy RLNG on the spot market after Qatari contract supplies were halted, and a delayed RLNG cargo deepened the shortfall. On Monday the federal government apologised for night-time load shedding, linking it to missing contracted Qatari LNG that left plants with about 5,000 MW of capacity unable to run. Power Minister Sardar Awais Ahmad Khan Leghari said there had been no supply shortfall by day or night so far, but higher night demand that only RLNG-fired plants can meet had left people struggling.