Pakistan-Bound LNG Tanker Hit Near Hormuz by Unknown Attacker

A Qatari LNG tanker carrying gas for Pakistan was targeted near the Strait of Hormuz on Friday, according to Bloomberg reports. Just hours prior, Iran had granted its passage. The vessel, named Al Mayeda and flagged to the Marshall Islands, was owned by Qatar Gas Transport Company, also known as Nakilat. Pakistani authorities had negotiated safe passage for the tanker, as they have done for multiple shipments in the past. However, the identity of the attacker remains unknown.

The tanker was struck by unidentified objects while navigating in the Gulf, causing it to reverse course. Nakilat confirmed that no crew members were injured, there was no environmental impact, and the ship is presently under control while damage is being assessed. India's Shipping Minister, Sarbananda Sonowal, reported that the vessel suffered a projectile attack, and all 25 crew members, including six Indians, are safe.

Qatar denounced the attack as a threat to global energy supplies and announced the commencement of an investigation.

It remains uncertain whether the cargo will still reach Pakistan. This incident demonstrates that even with an Iranian green light, a safe crossing is not guaranteed. Pakistan had previously negotiated safe passage for three Qatari cargoes in October. The attack indicates that Iran's endorsement no longer ensures safety.

If this shipment does not reach Pakistan, the country may need to purchase a replacement on the spot market, where prices have skyrocketed to over three times pre-war levels. Pakistan has already incurred significant costs for spot cargoes since the onset of the war. Higher LNG prices will likely increase the cost of gas supply to homes and industries as winter demand increases. LNG shipments through Hormuz have been reduced to approximately 30% of pre-war volumes in October.