Pakistan to need more than $1 billion for winter LNG purchases — OilPrice

Pakistan will have to spend more than $1 billion to secure supplies of liquefied natural gas (LNG) during the winter months. The country’s government plans to buy 10 gas cargoes on the spot market for delivery between November 2026 and February 2027, OilPrice reports.

Costs are rising due to an increase in Asian spot LNG prices to a three-year high. According to the local newspaper Tribune, cited by the publication, spot LNG cargoes cost about twice as much as the gas Pakistan imports from Qatar under long-term contracts.

Disruptions to supplies from Qatar

Before the war, Pakistan relied primarily on long-term supplies of Qatari gas. Due to disruptions in these supplies, the country was forced to buy more expensive cargoes on the spot market, which increased electricity generation costs.

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According to OilPrice, only part of the LNG cargoes from Qatar have arrived in Pakistan in recent months. The publication writes that this occurred after Iran gave Pakistan direct assurances regarding the safety of ships passing through the Strait of Hormuz. In March, Qatar declared force majeure on exports after Iranian strikes that, according to OilPrice, damaged the Ras Laffan LNG export hub.

Decline in imports and demand

According to Wood Mackenzie’s assessment, Pakistan was the country in South Asia most affected by the shortage of Qatari supplies. In 2025, 99% of Pakistan’s LNG imports came from Qatar.

The closure of the Strait of Hormuz reduced LNG volumes heading to Pakistan by up to 0.4 million tonnes per month from March to November 2026. According to Wood Mackenzie, the country had to curb demand, switch to other types of fuel, and release previously constrained volumes of domestic gas. The total reduction in gas demand exceeded 2.5 million tonnes.