Qatar LNG Cargo Arrives in Pakistan After Hormuz Ordeal

A long-awaited liquefied natural gas (LNG) cargo from Qatar has finally arrived in Pakistan, ending a period of uncertainty and tension. The Al Areesh vessel, carrying 141,550 cubic meters of LNG under the government-to-government agreement with Qatar, berthed at the Pakistan GasPort Limited terminal on Monday.

The cargo is priced at 13.37 percent of Brent, significantly cheaper than spot LNG prices that have surged above $21.12 per million British thermal units (MMBtu) and could exceed $23 per MMBtu if Pakistan were to procure fresh cargoes through the market.

Prime Minister Shehbaz Sharif, Federal Minister for Petroleum Ali Pervaiz Malik, and officials of the National Crisis Management Cell remained involved in efforts to secure the safe passage of the already-loaded cargo through the Strait of Hormuz amid heightened tensions in the Gulf.