KARACHI: Pakistan is set to receive another liquefied natural gas (LNG) cargo from Qatar, with the vessel successfully crossing the Strait of Hormuz and expected to enter Pakistani waters today, providing a boost to the country’s energy security.
The shipment is being supplied under a long-term government-to-government agreement with QatarEnergy and comes amid heightened geopolitical tensions in the Gulf region, ensuring uninterrupted gas supplies to Pakistan.
Under the agreement, the cargo is priced at 13.37% of Brent crude, making it significantly cheaper than LNG available on the spot market.
Spot LNG prices have risen above $22 per MMBtu, and officials estimate they could have exceeded $23.5 per MMBtu had Pakistan sought fresh spot-market purchases.
Senior officials said Prime Minister Shehbaz Sharif, Federal Minister for Petroleum Ali Pervaiz Malik, and the National Crisis Management Cell coordinated efforts to ensure the safe passage of the pre-loaded LNG cargo through the Strait of Hormuz despite regional tensions.
The arrival of the cargo is expected to strengthen Pakistan’s energy supplies and help reduce the financial burden associated with high-priced spot LNG imports.
