Pakistan secures another Qatari LNG cargo
LONDON: Pakistan has negotiated with Iran to secure safe passage through the Strait of Hormuz for another liquefied natural gas (LNG) shipment, providing some relief to the country as it faces a growing energy crunch, Bloomberg reported on Monday. According to the report, the LNG tanker, which loaded its cargo from Qatar’s Ras Laffan facility in late June, crossed the Strait of Hormuz over the…
Pakistan has secured passage for another liquefied natural gas (LNG) shipment from Qatar through the Strait of Hormuz, offering a respite to the nation grappling with an escalating energy crisis, according to Bloomberg on Monday. The LNG tanker, which offloaded its cargo from Qatar’s Ras Laffan facility in late June, navigated the Strait of Hormuz over the weekend and is anticipated to arrive at Pakistan’s LNG import facility by Tuesday, as per ship-tracking data.
The passage was reportedly negotiated between government officials, as cited by Bloomberg, quoting sources familiar with the matter. This marks the second Qatari LNG delivery to Pakistan this month, following the arrival of the Al Marrouna tanker carrying LNG from Qatar at Port Qasim earlier.
Pakistan had contemplated proceeding with a tender if the shipment had not cleared the Hormuz Strait. According to the report, a successful delivery is favored by the government, who aim to steer clear of procuring additional expensive shipments from the spot market, where prices have surged to their highest level since 2022.
Pakistan is presently confronting substantial hurdles in securing LNG deliveries due to geopolitical turbulence and soaring spot market prices. The country relies heavily on long-term supply agreements with Qatar for stable and more cost-effective LNG. However, renewed hostilities in the Strait of Hormuz led to the cancellation of a Qatari LNG shipment slated for July 2026 and forced Qatar to declare force majeure, disrupting LNG imports.
This predicament compelled Pakistan to seek emergency supplies and explore alternative fuels or costly spot cargoes.
On Sunday, Pakistan’s Petroleum Minister Ali Pervaiz Malik cautioned that fuel prices might escalate to Rs1,000 per liter if a shortage ensues, while noting that there was currently no fuel shortage in the country. Speaking to the media in Lahore, he stated that international oil prices had risen by around 80 percent, while petrol prices in Pakistan had been increased by only 50 percent since March 1 this year.
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