Hormuz Flare-Up Forces Pakistan to Buy Priciest LNG Since 2022
(Bloomberg) -- Pakistan bought its most expensive liquefied natural gas spot shipment in four years, as renewed hostilities around the Strait of Hormuz disrupted contracted deliveries from its main supplier Qatar.
State-owned Pakistan LNG Ltd. purchased a cargo for July 21-22 delivery at around $20.70 per million British thermal units via a tender that closed on Wednesday, according to traders with knowledge of the matter. That’s the priciest LNG purchase for the South Asian country since 2022.
Pakistan was forced to buy the shipment because a planned delivery from Qatar was canceled due to the disruptions in Hormuz — a key conduit for about a fifth of global LNG supply. This is the fourth cargo Pakistan purchased from the spot market for July delivery, as Islamabad scrambles to stave off a gas crunch and energy shortage.
Asian LNG prices have surged this month after the US and Iran resumed attacks in the Middle East. Gas flows through Hormuz have dropped since a Qatari tanker was attacked last week, forcing some buyers to rush to find replacement supply.
©2026 Bloomberg L.P.
