Qatari LNG tanker heads to Pakistan after crossing Strait of Hormuz

A Qatari liquefied natural gas tanker carrying more than 216,000 cubic metres of LNG has crossed the Strait of Hormuz and is heading towards Pakistan, according to ship-tracking data and government officials.

The LNG carrier Al Kharaitiyat departed Ras Laffan in Qatar last week and is expected to arrive at Port Qasim on Monday, according to Vessel Finder data. Officials said the vessel, carrying around 216,300 cubic metres of LNG, is expected to dock in Pakistan in the coming days.

Another LNG vessel, Fuwairit, carrying approximately 138,000 cubic metres of LNG, is also reported to be en route to Pakistan.

Energy sector sources said preparations for the incoming cargoes have already affected domestic gas system operations. Regasification at the floating storage unit vessel Seapeak Magellan has reportedly been reduced from 260 million cubic feet per day to 100 million cubic feet per day as authorities adjust gas flows ahead of the arrivals.

Industry sources said Al Kharaitiyat is among the world’s larger LNG carrier categories and is likely to unload cargo at the Engro Elengy Terminal, which has previously handled vessels of similar size.

Energy analysts estimated current spot LNG prices at around $16.85 per MMBtu, including freight costs, insurance charges and war-risk premiums linked to geopolitical tensions in the Gulf region.

Industry experts also warned that repeated LNG tenders followed by rejection of offers could affect trader confidence and increase future procurement costs for Pakistan-bound cargoes.

Last week, State-run Pakistan LNG Limited (PLL) rejected the two lowest LNG bids submitted by BP Singapore and TotalEnergies at $17.28 and $16.98 per million British thermal units (mmBtu), respectively, against urgent tenders floated for May deliveries amid rising temperatures and increasing power demand.

PLL had floated emergency tenders on Wednesday with a 36-hour notice period for two LNG cargoes scheduled for delivery between May 12-14 and May 24-26.

The company received a total of seven bids for the two delivery windows.

For the May 12-14 cargo, BP Singapore offered $17.28 per mmBtu, PetroChina bid $17.69 and Vitol Bahrain submitted an offer of $17.84.

For the May 24-26 delivery window, TotalEnergies offered $16.98 per mmBtu, SOCAR Trading bid $17.21, PetroChina International submitted $17.49 and OQ Trading offered $18.58.

Officials said the tenders were floated after expectations emerged that tensions in the Gulf region could ease and shipping activity through the Strait of Hormuz could resume.

PLL had also rejected two LNG bids for the same delivery periods last month, while accepting one cargo at $18.4 per mmBtu after securing comparatively lower offers.

Pakistan’s LNG imports had been disrupted after closure of the Strait of Hormuz following military escalation involving the United States, Israel and Iran.