- Masood Nabi, CEO of Pakistan LNG Limited (PLL), told the WPC Energy Congress in Riyadh that winter for Pakistan will be challenging.
- Pakistan sourced 99% of its LNG imports from Qatar last year under term contracts. Qatar declared force majeure on exports in March after Iranian strikes damaged its Ras Laffan LNG export hub.
- Pakistan will purchase 10 additional spot cargoes for deliveries between November 2026 and February 2027, at double the price of Qatari term LNG, with total costs above $1 billion.
- The EIA reported a net natural gas inventory increase of 67 Bcf for the week ended October 9, lifting stocks to 3,567 Bcf from 3,500 Bcf the prior week.
- The FT reports the Strait of Hormuz closure cut seaborne gas and oil flows, and the IEA estimated cumulative supply losses of 1.3bn barrels of oil by June, with Japan, South Korea, Italy and Germany returning underused coal plants to full capacity.
Quotes
“winter for Pakistan will be challenging”
“Pakistan has had to turn to expensive spot purchases, which have pushed its power generation costs higher.”