ISLAMABAD: Pakistan negotiated with Iran to secure safe passage through the Strait of Hormuz for a liquefied natural gas shipment from Qatar, providing temporary relief as the country confronts a worsening energy crisis, Bloomberg reported Monday.
The LNG tanker loaded its cargo from Qatar's Ras Laffan facility in late June, crossed the Strait of Hormuz over the weekend and was expected to reach Pakistan's LNG import facility by Tuesday, according to ship-tracking data cited by Bloomberg.
The passage was negotiated between government officials, Bloomberg reported, citing people with knowledge of the matter.
It marks the second Qatari delivery this month. Earlier, the tanker Al Marrouna, carrying LNG from Qatar, arrived at Pakistan's Port Qasim.
Pakistan had been considering a tender if the shipment failed to get through Hormuz, according to the report.
"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," Bloomberg reported.
Pakistan is facing significant challenges in securing LNG deliveries because of geopolitical disruptions and high spot market prices. The country depends heavily on long-term supply deals with Qatar for stable and more affordable LNG.
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. The situation forced Pakistan to seek emergency supplies and look for alternative fuels or expensive spot cargoes.
Petroleum Minister Ali Pervaiz Malik warned Sunday that fuel prices could rise to 1,000 rupees ($3.50) per liter if a shortage develops, while saying there was currently no fuel shortage in the country.
Speaking to reporters in Lahore, Malik said oil prices in the international market had increased by about 80%, while petrol prices in Pakistan had been raised by only 50% since March 1.
