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Pakistan secures another Qatar LNG cargo after Iran transit deal
karachi-Pakistan has reached an understanding with Iran to facilitate the passage of another liquefied natural gas (LNG) cargo through the Strait of Hormuz, according to a Bloomberg report, offering some relief as continued regional disruptions threaten energy supplies.
Pakistan’s Ministry of Energy, however, did not immediately respond to Bloomberg‘s request for comment, the news agency reported.
Petroleum Minister Ali Pervaiz Malik warned on Sunday that petrol prices in Pakistan could rise to Rs1,000 per litre if the country faces a significant fuel shortage, as surging global oil prices continue to put pressure on domestic energy costs. According to Geo, Malik said petrol prices in Pakistan had already increased by around 50% amid volatility in international oil markets. He added that prices had also risen sharply in Europe and the United States.
The minister said the government was taking measures to provide relief to vulnerable sections of society amid higher fuel costs, while efforts were also underway to boost domestic oil production.
Meanwhile, Bloomberg reported Monday that the LNG tanker had loaded its cargo at Qatar’s Ras Laffan facility in late June before crossing the Strait of Hormuz over the weekend. Ship-tracking data cited by the news agency indicated that the vessel was expected to reach Pakistan’s LNG import terminal by Tuesday.
People familiar with the matter told Bloomberg that the transit arrangement was negotiated between government officials. They spoke on condition of anonymity because the discussions have not been made public.
The cargo would mark the second LNG shipment from Qatar to reach Pakistan this month, Bloomberg reported.
The Strait of Hormuz has experienced significant disruption, restricting the movement of energy shipments through one of the world’s most important oil and gas routes. Bloomberg reported that Pakistan, which relies heavily on imported LNG, has been among the countries affected by the disruption.
According to the report, Islamabad has been leveraging its relationship with Tehran to help facilitate the movement of several LNG cargoes since strikes began in late February. The move comes as Pakistan seeks to safeguard domestic energy supplies and minimise the risk of electricity shortages.
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