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Qatari LNG cargoes expected to bring relief to Pakistan’s energy crisis
The first shipment could arrive as early as Thursday, after Qatar declared force majeure and Pakistan paid spot premiums near $27 per MMBtu in recent tenders.
Pakistan is expected to see an easing of its energy crunch after tankers carrying Qatari LNG are scheduled to arrive in the country this month, with the first cargo seen reaching Pakistan as early as Thursday, according to Bloomberg and ship-tracking data cited by OilPrice.
The improvement follows disruptions after Qatar declared force majeure on LNG exports linked to Iranian strikes that damaged Qatar’s Ras Laffan LNG hub. With long-term supply disrupted, Pakistan has relied more heavily on spot LNG purchases and has had to pay high premiums for occasional shipments.
OilPrice reports that Pakistan has issued several prompt LNG delivery tenders over the past three months, typically paying around $20 per million British thermal units in bids. A tender earlier this month ended without an order after Pakistan’s state gas company received only one offer at $27 per MMBtu, which was cited as roughly three times higher than pre-war LNG prices.
After that failed tender, Pakistan LNG issued a new one. OilPrice adds that the new Qatari cargoes are expected to help alleviate an energy crisis where power generation costs have surged due to the gas crunch.