Pakistan’s liquefied natural gas (LNG) supplies from Qatar have been disrupted after Doha declared force majeure amid the ongoing regional conflict, Finance Minister Muhammad Aurangzeb informed the Senate Standing Committee on Finance.

Addressing the committee, Aurangzeb said the rapidly evolving geopolitical situation has forced the government to make swift decisions regarding energy procurement and pricing.

He told lawmakers that the price of an LNG cargo has surged sharply, with shipments that previously cost around $25 million now being quoted at nearly $100 million in the international market due to severe supply disruptions.

The finance minister said the government has formed a ministerial committee under the prime minister’s directive to monitor petroleum supplies and energy prices on a daily basis as the situation continues to shift.

Aurangzeb warned that several countries in the region are already experiencing fuel shortages and have introduced rationing measures. He cited examples of Sri Lanka and Bangladesh, where fuel rationing has been implemented amid the ongoing energy market volatility.

Meanwhile, Petroleum Minister Ali Pervaiz Malik told the committee that international crude oil markets are experiencing extraordinary volatility, while insurance coverage and shipping premiums for energy cargoes have become increasingly difficult to secure.

He added that oil supplies arranged from Saudi Arabia could take between 15 and 20 days to arrive in Pakistan due to logistical challenges.