Pakistan-Bound LNG Tanker Hit Near Hormuz by Unknown Attacker

In practice, a Qatari LNG tanker carrying gas for Pakistan was attacked near the Strait of Hormuz on Friday, just hours after Iran had approved its passage, Bloomberg documented.

Key points

• India's Shipping Minister Sarbananda Sonowal remarked the ship was struck in a projectile attack and all 25 crew, including six Indians, are safe.
• The vessel, owned by Qatar Gas Transport Firm (Nakilat), was hit by unidentified objects while sailing in the Gulf and then reversed course, according to tracking data.
• Pakistan has leaned on its ties with Tehran to keep Qatari LNG flowing and received three Qatari cargoes in October.
• LNG shipments through Hormuz stayed at around 30% of pre-war volumes in October.
• If this cargo doesn't arrive, Pakistan may have to purchase a replacement on the spot market, where costs have climbed to more than three times pre-war levels.

As it has done for a number of cargoes before, according to individuals with direct knowledge of the matter, pakistan had negotiated safe passage for the Marshall Islands-flagged Al Mayeda with Iranian authorities. Who carried out the attack is still unclear. LPG Associations Announce Strike Throughout Pakistan. What Happened to the Ship.

Notably, the vessel, owned by Qatar Gas Transport Firm (Nakilat), was hit by unidentified objects while sailing in the Gulf and then reversed course, according to tracking data. Nakilat remarked no crew were injured, there was no environmental impact, and the ship remains under control while damage is assessed.

India's Shipping Minister Sarbananda Sonowal remarked the ship was struck in a projectile attack and all 25 crew, including six Indians, are safe. Qatar condemned the attack as a threat to global energy supplies and remarked it has opened an investigation.

It is not yet clear whether the cargo will still reach Pakistan. What This Means for You.

Pakistan has leaned on its ties with Tehran to keep Qatari LNG flowing and received three Qatari cargoes in October. This attack demonstrates that even an Iranian green light no longer guarantees a safe crossing.

If this cargo doesn't arrive, Pakistan may have to purchase a replacement on the spot market, where costs have climbed to more than three times pre-war levels. Govt Announces 3 Career-Ending Punishments for Petroleum Levy Defaulters.

In practice, the country has already paid heavily for spot cargoes since the war began, and costlier LNG usually feeds into higher RLNG rates and pressure on gas supply to homes and industry as winter demand rises.

LNG shipments through Hormuz stayed at around 30% of pre-war volumes in October. Stay Connected with ProPakistani.

Obtain the latest business news, market insights, and economic updates wherever you prefer. Follow on Google Discover. Follow on Google News Join WhatsApp. See more ProPakistani stories in Google Search and Top Stories.

Taken together, the developments around pakistan-Bound LNG Tanker Hit Near Hormuz by Unknown Attacker point to a situation that is still moving, and the coming days should bring more clarity.