Pakistan faces escalation of power crisis as LNG tenders scrapped

Pakistan is again facing an escalation of power crisis after it failed to agree on a deal for natural gas supply next month.

Tenders for July were scrapped due to high price, and low participation as the nation is already taking action to tackle widespread blackouts, Geo News reported.

State-owned Pakistan LNG Ltd scrapped a purchase tender for July shipments of liquefied natural gas after it received an offer that would’ve been the most expensive shipment ever delivered to the nation, according to traders with knowledge of the matter.

State Minister for Petroleum Musadik Malik has warned of power load-shedding in July and gas shortage in the coming winters in the country.