Global LNG supply bracing for a jolt as supply from West Asia may come to an end in 10 days: Report in Oil & Companies News 06/05/2026 A global energy crunch is fast approaching, with countries bracing for a sharp drop in liquefied natural gas (LNG) supplies as shipments from the Gulf near a halt within the next 10 days, according to a report by the Financial Times. The report said only a handful of final cargoes are still en route after exports from Qatar, which accounts for roughly a fifth of global LNG supply, were disrupted following Iran’s blockade of the Strait of Hormuz and missile strikes on the Ras Laffan processing hub. Many shipments that had already departed before the conflict are still reaching buyers, delaying the full impact. But once these deliveries are exhausted, import-dependent economies are expected to face immediate shortages and sharply higher prices, the Financial Times reported. Supply shock already hitting markets The disruption has already pushed LNG prices significantly higher. According to the Financial Times, Asian benchmark prices have doubled since the conflict began, reaching around $23 per million British thermal units (MMBtu). Higher shipping costs, driven by longer routes and elevated charter rates, are compounding the pressure on buyers, the report added. Pakistan among the worst affected Pakistan is emerging as one of the most vulnerable economies, the Financial Times reported. Nearly 99% of its LNG imports came from Qatar last year, and its last shipments arrived in the early days of the conflict. Its two LNG terminals have scaled down operations and are expected to stop gas dispatch entirely by the end of the month. “After that we’ll run dry,” Iqbal Ahmed, chair and chief executive of Pakistan GasPort, told the FT. “We do not know when the next cargo will come in.” Efforts to secure alternative supplies have so far failed, with offers from Europe, the US, Oman and other regions proving too expensive, according to the repo