Qatar Halts LNG Supplies to Pakistan As Rates Spike to $100 Million per Shipment

Pakistan’s liquefied natural gas (LNG) imports from Qatar have been suspended after Doha declared force majeure due to the ongoing regional conflict, Finance Minister Muhammad Aurangzeb informed the Senate Standing Committee on Finance.

Briefing the committee, the finance minister said the situation in the region was changing rapidly and required immediate decisions regarding energy procurement and pricing.

He revealed that an LNG cargo previously priced around $25 million was now being offered in the international market for nearly $100 million due to the disruption in energy supply chains.

Aurangzeb said the government has established a ministerial committee to monitor petroleum products and energy prices on a daily basis under the direction of the prime minister.

He also warned that several countries in the region are already facing severe fuel shortages and rationing. Sri Lanka and Bangladesh have introduced fuel rationing measures amid the ongoing market volatility.

Meanwhile, Petroleum Minister Ali Pervaiz Malik told the committee that global crude oil prices were witnessing unprecedented fluctuations and that the availability of shipping insurance and premiums in international markets had also become difficult.

He added that oil shipments from Saudi Arabia could take up to 15 to 20 days to reach Pakistan.

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