Pakistan Faces Deeper Power Crisis as LNG Becomes Too Expensive
- Tenders for July scrapped on high price, low participation
- Nation is already taking action to tackle widespread blackouts
High voltage power lines in Karachi, Pakistan.
Photographer: Asim Hafeez/BloombergThis article is for subscribers only.
Pakistan is facing an escalation of its power crisis after it failed to agree a deal for natural gas supply next month.
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.