Pakistan Fails in Its First Attempt in a Year to Buy Gas in Hit to Economy
- Suppliers didn’t participate in tender for Oct.-Dec. shipments
- South Asian nation faces increasing risk of sovereign default
This article is for subscribers only.
Pakistan failed in its first attempt in about a year to buy liquefied natural gas from the spot market, with no suppliers of the power-station fuel offering cargoes.
No companies responded to Pakistan LNG Ltd.’s tender to purchase six shipments for October-to-December delivery, which closed on Tuesday, said traders with knowledge of the matter who didn’t want to be named as they aren’t authorized to speak to media.