Pakistan Rushes to Buy LNG From Spot Market to Ease Gas Shortage
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Pakistan is looking to buy liquefied natural gas from the expensive spot market for the first time in over two years as the government rushes to ease an energy shortfall triggered by the conflict in the Middle East.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Pakistan is looking to buy liquefied natural gas from the expensive spot market for the first time in over two years as the government rushes to ease an energy shortfall triggered by the conflict in the Middle East.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.State-owned Pakistan LNG Ltd. released a rare purchase tender for three LNG shipments for delivery from late April to mid-May, according to a document on its website. Suppliers are requested to submit offers by Friday, the notice said.Pakistan, which procured nearly all of its LNG from Qatar last year, hasn’t received a shipment since early-March, shortly after the US and Israel began strikes on Iran and Tehran closed the Strait of Hormuz. Qatar was also forced to shut the world’s largest LNG export facility due to an Iranian attacks and cancel deliveries to its customers.The gas shortage has triggered widespread power outages across Pakistan, posing a significant threat to the country’s economic growth. The move to buy spot cargoes come as LNG supplies remain trapped in the Persian Gulf. Hormuz — a vital waterway for about a fifth of global LNG supply — has effectively been shut to traffic of the fuel since the war began.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Four LNG tankers loaded in Qatar over a month ago and currently in the Gulf are signaling Pakistan as their next destination, according to ship-tracking data compiled by Bloomberg. Three of the vessels approached the Strait of Hormuz over the weekend before turning back, and are now once again near Qatari waters, the data shows.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.