Emerging Asia Faces Power Curbs, More Pollution on Gas Rally
- Bangladesh to stop buying spot LNG for 2021 due to price rally
- Pakistan cancels tenders, while India curbs spot procurement
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Pakistan and Bangladesh are among developing nations in Asia that can no longer afford to pay surging liquefied natural gas prices, raising the risk of power rationing or the burning of dirtier alternatives this winter.
Bangladesh’s state-run Petrobangla plans to stop buying spot LNG cargoes for the rest of the year after a quadrupling of prices over the past year to a seasonal high. Pakistan has repeatedly canceled and reissued LNG purchase tenders in an effort to get better offer prices, without avail.