Qatari LNG cargoes set to reach Pakistan as energy crisis deepens

  • Pakistan is set to receive Qatari LNG cargoes this month.
  • Pakistan’s failed tender attracted one offer priced at $27 per MMBtu.
  • Qatar declared force majeure after Iranian strikes damaged Ras Laffan LNG hub.

Pakistan is set to receive Qatari LNG cargoes this month, with the first shipment potentially arriving as early as Thursday, Bloomberg reported, citing ship-tracking data. The deliveries would provide some relief after Qatar declared force majeure (a contractual emergency exemption) on exports following Iranian strikes that damaged the Ras Laffan LNG hub. Pakistan, previously dependent on Qatar under long-term contracts, has turned to spot LNG and repeatedly paid more than $20 per million British thermal units. A recent tender failed after the state gas company received only one bid, priced at $27 per MMBtu, while another figure cited by a senior Pakistan LNG Limited executive was $26.969 per MMBtu against an international price of $23.18. Power-generation costs were already 38% higher in July than a year earlier, while rolling blackouts have sometimes lasted 24 hours in parts of the country. QatarEnergy has since extended its force majeure, and higher spot prices may further increase Pakistan’s costs.

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