Supply disruptions from Qatar push Pakistan to pay record spot LNG prices amid Hormuz crisis escalation.
Pakistan LNG Ltd secured a spot liquefied natural gas cargo at $20.70 per million British thermal units, the highest price in four years. The deal follows Qatar supply cuts due to renewed tensions in the Hormuz Strait, forcing Pakistan to seek alternative sources via tender.
The $20.70/MMBtu price surpasses recent spot market levels and reflects tight supply conditions. Traders noted the cargo will arrive early next week, highlighting urgency amid ongoing geopolitical risks in key shipping lanes.
No immediate market reaction was reported, but elevated LNG costs may pressure Pakistan’s energy import bills and fiscal outlook.