LNG Tanker Navigates Hormuz Strait After Iran Deal
A Qatar-loaded LNG tanker, Shandong Redwood, has safely crossed the Strait of Hormuz and is heading to Pakistan after negotiations with Iran.
The Bermuda-flagged tanker was carrying a cargo from Qatar's Ras Laffan export terminal, which it loaded on June 28. It stayed at anchor in the United Arab Emirates before continuing towards Karachi.
Pakistan has been using its ties with Iran to get LNG cargoes through the strait since fighting began in late February. The country depends heavily on LNG from Qatar for its power supply, and this shipment is particularly important as it's one of two Qatari LNG cargoes to reach Pakistan this month.
Pakistan's Petroleum Minister Ali Pervaiz Malik confirmed that the tanker was carrying LNG to Karachi and had crossed the strait. He warned that fuel prices could reach 1,000 Pakistani rupees per litre if a shortage develops due to the disruption in LNG supplies.