Islamabad: Pakistan is most likely to hit by another brewing liquefied natural gas (LNG) crisis again in September and October, as the government has refused to purchase eight spot LNG cargoes, reported The News International. The government refused to procure the LNG as the gas was offered at a higher cost in the range of USD 13.787-USD 16.0 per MMBTU (per million British thermal units), according to the publication.
The Pakistan LNG Limited (PLL) -100 per cent state-owned company, had floated the tender for eight LNG spot cargoes (4 for September and 4 for October) but because of the higher than expected rates, the government cancelled them by rejecting to buy LNG at high prices.
With this, the top sources in the Petroleum Division warned that the country could suffer from another gas crisis due to a shortage in the aftermath of the rejection of higher bids for spot cargoes.