Lates News

After a new round of conflict in the Strait of Hormuz disrupted supplies once again, Pakistan is urgently seeking to purchase a cargo of liquefied natural gas (LNG). According to a notice on the website of Pakistan's national oil company, the company has issued a tender seeking a delivery of LNG on July 15th to 16th with the deadline for bids on Friday. Informed traders revealed that the tender had been approved by the government on Wednesday after a shipment scheduled to be delivered this month from Qatar was canceled. Traffic in the Strait of Hormuz has almost come to a standstill after the United States launched strikes against Iran for the second consecutive day. Earlier this week, a ship carrying Qatari cargo bound for Pakistan halted its journey through the strait. Last year, almost all of Pakistan's LNG came from a long-term contract with Qatar. Since the outbreak of the Middle East conflict at the end of February, the country has been grappling with energy shortages. To alleviate the shortage of natural gas supply, Pakistan has been forced to purchase two cargoes on the expensive spot market in the past few weeks.