ISLAMABAD, Jan 21: As review meeting for the LNG project is being held here on Tuesday, the ETPL is pressing for award of the contract as its bid stands compliant.

Chaired by the advisor to the PM on petroleum Dr Asim Hussain the meeting would assess the situation as decision makers are faced with a difficult situation either to allot the tender to the ETPL or call another tender for the project.

The major concerns regarding re-tendering are that the whole process might not be completed before elections, besides if the bids are cancelled without any solid reason, international companies may be discouraged to invest in Pakistan.

The bids for LNG import project, initiated by the Sui Southern Gas Company (SSGC), were opened on Jan 9, in which the ETPL, PGPL and the GEI participated.

Bids submitted by PGPL reached the SSGC offices after the cut-off time, while the bid bond submitted by GEI was less than the required amount of $1 million.

Under this scenario, only PGPL remains an eligible bidder and the company has expressed concerns in its letter to Finance Minister Abdul Hafeez Shaikh, Secretary of Petroleum Dr Waqar Masood Khan, Deputy Chairman, Planning Commission Dr Nadeemul Haque and SSGC Chairman Salim Abbas Jilani.

The ETPL consortium, led by Engro group, comprises ConocoPhillips, Shell, ExxonMobil, EOF & Excelerate.

The company in its letter stated that confidence of these large companies in Pakistan would be shattered, if process is delayed without any reason.

The letter said that the procuring agency can reject all bids and can call for a re-bidding, however it has to assess the reasons for rejection.