ISLAMABAD: Pakistan has purchased its most expensive liquefied natural gas (LNG) cargo in nearly four years as energy supply pressures intensify following disruptions linked to the effective closure of the Strait of Hormuz, according to Bloomberg.
State-owned Pakistan LNG Limited secured the cargo for June 6–7 delivery from BP Plc through a tender that closed on Thursday, traders familiar with the matter said. The emergency purchase was reportedly made after a scheduled LNG shipment from Qatar was cancelled amid heightened geopolitical tensions in the region.
The cargo was priced at $19.1337 per million British thermal units (mmBtu), marking the highest LNG import cost for Pakistan since 2022.
Analysts say Pakistan has been among the countries most affected by the ongoing regional disruption, as a significant portion of global LNG flows has been impacted by restricted access through the Strait of Hormuz. Pakistan relies heavily on Qatar for its LNG imports and has recently faced gas shortages and intermittent power outages due to reduced supply.
According to traders, Pakistan LNG Ltd was compelled to turn to the spot market to meet immediate demand, with this purchase following its first spot LNG cargo in nearly two years earlier in April.
Attempts were also made by Islamabad to secure alternative arrangements, including negotiations for transit of Qatari LNG shipments via Iran, with some consignments arriving earlier this year. However, supply volumes remain below normal levels, keeping pressure on domestic energy availability.
The situation has been further complicated by stalled diplomatic efforts between Iran and the United States, with renewed regional tensions raising uncertainty over the reopening of the strategic shipping route.
Officials and market observers warn that continued instability in the Strait of Hormuz could sustain elevated LNG prices and further strain Pakistan’s energy sector, which remains heavily dependent on imported gas.
