Karachi (TDI): Pakistan received a much-needed boost to its liquefied natural gas supplies on Thursday after a Qatari LNG carrier carrying around 81,936 metric tonnes of the fuel docked at Port Qasim, having successfully crossed the strategically important Strait of Hormuz.
The LNG carrier Al Marrouna transported the cargo from Qatar’s Ras Laffan terminal under Pakistan’s government-to-government arrangement with Doha. The vessel transited the Strait of Hormuz on September 7, at a time when regional tensions have raised concerns over the security of energy shipments through the key waterway, The News reported.
The shipment is expected to provide temporary relief to Pakistan’s power sector, with parts of the country currently experiencing between six and 12 hours of loadshedding. The cargo was reportedly secured at a price equivalent to 13.37% of Brent.
The successful passage of the vessel has also drawn attention in international LNG markets, easing some concerns over a prolonged disruption of Qatari supplies through Hormuz. The development has put downward pressure on Asian benchmark Platts JKM and Northwest European LNG prices.
The arrival comes amid renewed military escalation involving Iran, the United States and Iranian-backed Houthi forces in Yemen. Iran and the US have resumed exchanges of fire after a period of relative calm in August, while shipping traffic through the Strait of Hormuz has fallen below its 10-day average.
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Iran’s Islamic Revolutionary Guard Corps reportedly attacked two US vessels and eight oil tankers in the Gulf on Tuesday, following US strikes on five Iranian tankers, according to Iranian state media.
Meanwhile, Pakistan LNG Limited (PLL) has cancelled a spot LNG tender floated on September 5, which was scheduled to be opened on September 8.
The latest Qatari shipment is particularly significant as it is reportedly the first Qatari LNG cargo to leave the Persian Gulf since tensions around the Strait of Hormuz intensified in July. The deteriorating security situation had raised concerns about shipping disruptions and increased insurance costs for vessels using the waterway.
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For Pakistan, the successful arrival provides short-term relief but does not eliminate the risks surrounding future LNG supplies. Any renewed disruption in Hormuz could increase LNG procurement costs, strain energy security and affect electricity generation.
Qatar, a major global LNG supplier, has meanwhile continued diplomatic engagement with Iran and strengthened regional ties as it seeks to reduce its vulnerability to the Strait of Hormuz while maintaining its role as an energy supplier and regional mediator.
