Pakistan invites bid for July LNG cargoes
Pakistan has invited bids for the delivery of four LNG cargoes in July, to help ease a significant shortfall in its energy supply.
Pakistan LNG Ltd is seeking supply of the cargoes on a delivered ex-ship basis to Port Qasim in Pakistan on July 3-4, 8-9, 25-26 and July 30-31, the company said on June 16. The deadline for bids is June 23.
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Pakistan's electricity consumption has soared in recent months due to a summer heat wave, meanwhile its hydroelectric power dams have been performing poorly and it has struggled to obtain LNG cargoes because of the market's tightness. The country's power demand is currently exceeding supply by 7 GW, implying a 25% shortfall.
The government has responded by limiting operating hours of some large businesses, imposing a five-day week and increased energy rationing, but still the country is suffering rolling blackouts.