Key facts
- Pakistan LNG is seeking an emergency LNG cargo for delivery between June 30 and July 4.
- Offers for the cargo are due June 29.
- The urgency is due to volatile traffic through the Strait of Hormuz amid renewed U.S.-Iran tensions.
- Gulf producers like Saudi Arabia, UAE, and Qatar are continuing to load oil and LNG.
- Iran is increasing oil loadings from Kharg Island due to a waiver on U.S. sanctions.
Pakistan's state LNG importer, Pakistan LNG, is urgently seeking an emergency LNG cargo for delivery between June 30 and July 4, with offers due June 29. This move is prompted by volatile traffic through the Strait of Hormuz, a critical chokepoint for global energy supplies, amid heightened U.S.-Iran tensions.
Despite the attacks on commercial vessels near the Strait of Hormuz and renewed U.S.-Iran tensions, Gulf producers Saudi Arabia, the UAE, and Qatar are continuing to load oil and LNG. Iran is also observed to have renewed loadings from Kharg Island, its key oil export port, taking advantage of a 60-day waiver on U.S. sanctions.
One supertanker loaded at Saudi's Ras Tanura port has already exited the Strait of Hormuz en route to Japan. Two other supertankers are waiting to load crude at UAE ports, while Emirates and Qatar continue to send LNG carriers through the strait. The U.S. carried out strikes on targets in Iran over the weekend in response to attacks on two ships, but a U.S. official stated parties had agreed to halt hostilities ahead of new talks.
Pakistan has previously faced energy crises due to Hormuz disruptions, notably in March and April when transit halted. The country has historically depended on Qatar's term supply, but regional conflicts have impacted this. Relief came in early May with a cargo from the United States, marking the first LNG arrival in nearly two months.