Qatar’s $20 Billion LNG Blackout Forces Pakistan Back to the Spot Market

Pakistan is tapping the spot LNG market for the first time in nearly three years as the lack of fixed-term Qatari supply has triggered a power crisis and widespread outages. Pakistan has relied on Qatar’s term LNG supply for years, but the war in the Middle East has led to the shutdown of Qatari LNG production and exports. The de facto closure of the Strait of Hormuz has trapped about 20% of daily global LNG flows. In addition, Iranian drone and missile strikes on energy infrastructure in the region has damaged Qatar’s key LNG liquefaction…