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 weekend and is expected to reach Pakistan’s LNG import facility by Tuesday, according to ship-tracking data.
“The passage was negotiated between government officials,” Bloomberg said, quoting people with knowledge of the matter.
This marks the second such Qatari delivery this month. Earlier, Al Marrouna, a tanker carrying LNG from Qatar, arrived at Pakistan’s Port Qasim.
The report further said that Pakistan had been considering a tender if the shipment didn’t get through Hormuz.
“A successful delivery, however, is preferable for the government, eager to avoid buying additional expensive shipments from the spot market, where prices have spiked to the highest level since 2022,” it added.
Pakistan is currently facing significant challenges in securing LNG deliveries due to geopolitical disruptions and high spot market prices.
Pakistan heavily depends on its long-term supply deals with Qatar for stable and more affordable LNG.
However, renewed hostilities in the Strait of Hormuz led to the cancellation of a Qatari LNG shipment scheduled for July 2026 and prompted Qatar to declare force majeure, disrupting LNG imports. This situation forced Pakistan to seek emergency supplies and look for alternative fuels or expensive spot cargoes.
Pakistan’s Petroleum Minister Ali Pervaiz Malik on Sunday warned that the price of fuel could rise to Rs1,000 per litre if a shortage develops, while saying there was currently no fuel shortage in the country.
Talking to the media in Lahore, he said oil prices in the international market had increased by around 80 percent, while petrol prices in Pakistan had been raised by only 50 percent since March 1 this year.
Comments