Bloomberg: Pakistan seeks emergency LNG cargo after Hormuz disruptions

Pakistan is urgently seeking to secure a shipment of liquefied natural gas (LNG) after renewed hostilities in the Strait of Hormuz disrupted supplies to the country, Bloomberg reports.

The report said state-owned Pakistan LNG has issued a tender for the purchase of a cargo for delivery on July 15-16, with bids due by July 10, according to a notice published on the company's website.

The government approved the tender on July 9 after a Qatari LNG shipment scheduled for delivery this month was cancelled, traders familiar with the matter told Bloomberg, requesting anonymity because the information is not public.

Shipping through the Strait of Hormuz has slowed sharply after the United States carried out a second day of strikes on Iran following Iranian attacks on vessels in the waterway, including an LNG tanker.

A vessel transporting a Qatari LNG cargo destined for Pakistan turned back earlier this week before transiting the strait.

Pakistan imported almost all of its LNG under long-term agreements with Qatar last year, leaving the country exposed to supply disruptions following the escalation of tensions in the Middle East in late February.

As a result, Islamabad has been forced to purchase two cargoes from the significantly more expensive spot market in recent weeks to avoid potential gas shortages.

By Bakhtiyar Abbasov