Pakistan is facing a worsening electricity crunch after rejecting an emergency liquefied natural gas (LNG) cargo at nearly three times pre-war spot prices, leaving the country with an increasingly difficult choice: pay a steep premium for fuel or risk more power cuts across cities.
State-owned Pakistan LNG Ltd. scrapped an emergency tender for a shipment due by September 8 after receiving a sole offer from BP Plc at $27 per million British thermal units (MMBtu), traders told Bloomberg. The government rejected the bid as too expensive and may reissue the tender later
