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Market Chatter: Pakistan Reaches Deal With Iran for Safe Passage for Qatari LNG Cargo Through Hormuz

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Pakistan has negotiated with Iran an agreement securing the safe passage of a liquefied natural gas shipment from Qatar through the Strait of Hormuz, providing some relief to the south Asian country which is facing an energy crunch, Bloomberg reported Monday.

Government officials negotiated the safe passage for the shipment in what would be the second Qatari LNG delivery to Pakistan in September, the report said, citing people with knowledge of the matter.

The LNG tanker is expected to reach Pakistan's import terminal by Tuesday after crossing the crucial waterway during the weekend and having been loaded with LNG at Qatar's Ras Laffan facility in late June, the report said, citing ship-tracking data.

A successful delivery is the preferable option for Pakistan government as against buying costly LNG on the spot market, where prices have risen to their highest level since 2022, the report added.

has reached out to the Pakistan PM office and Energy Ministry separately for comments.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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