Pakistan’s $1 Billion Gas Tender Flop to Worsen Energy Crisis
- Request for LNG received not a single offer from suppliers
- Nation already grappling with blackouts due to fuel shortage
An LNG tanker at Fauji Oil Terminal & Distribution Co. Ltd. in Karachi.
Photographer: Asim Hafeez/BloombergThis article is for subscribers only.
Pakistan’s energy crisis looks set to drag on for months after another failed attempt by the nation to import gas.
In an unusual development, state-owned Pakistan LNG didn’t receive a single offer in a $1 billion liquefied natural gas purchase tender, according to traders with knowledge of the matter. That illustrates both the extent of the global fuel shortage, and also the reluctance of suppliers to sell to a country in the depths of an economic crisis.