OCCUPIED JERUSALEM: The Israeli and Egyptian energy ministers have agreed to build a pipeline to connect Israel’s offshore Leviathan natural gas field to liquefied natural gas (LNG) terminals in northern Egypt, the Israeli minister said on Sunday. Yuval Steinitz hosted a meeting with his Egyptian counterpart, Tarek El Molla, as both countries look for new ways to expand the development…
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Global natural gas demand is set to return to pre-crisis levels as early as this year and will continue to rise in the coming years, thanks to the coal-to-gas switch in Asia, particularly China. The growing gas demand will drive more liquefied natural gas (LNG) consumption and trade, and producers are gearing up for a new cycle of final investment…
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ISLAMABAD: In an unexpected development, the PTI government, which itself earlier applauded the decision on wheeling charges Nepra took on January 11, 2021 to pave way for the country’s industrial sector to thrive with lower cost of electricity, has now emerged as a stumbling block in the way of the decision’s implementation. The Power Division, instead of notifying the decision…
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Distributed generation through net-metering is one of the most effective tools to enable renewable power generation at the grass-root level and is one of the key focus areas of the National Electric Power Regulatory Authority (Nepra) for meeting increased electricity demands sustainably, said Nepra Chairman Tauseef Farooqi. Addressing the launch of a research report on ‘Barriers and Drivers of Solar…
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The federal government’s refusal to raise the price of POL products on the recommendation of the Oil and Gas Regulatory Authority (Ogra) for the period 15 to 28 February was made possible not through raising subsidies (which would have been opposed by multilaterals, including the International Monetary Fund, on the legitimate economic grounds that it would be an untargeted subsidy)…
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Doha: Oil prices fell for a second day on Friday, retreating further from recent highs, as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather and power outages. Brent crude futures ended the session down $1.02, or 1.6 percent, at $62.91 a barrel, while US West Texas Intermediate (WTI) crude fell $1.28, or 2.1…
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The federal government is all set to reduce gas tariff up to 35 per cent for the independent power producers (IPPs) operating on low quality gas in a bid to rank these plants in high merit order. This plan will result in putting burden on the consumers to cross-subsidize the gas for power plants and the rate of federal excise…
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Economic policy is four actions that governments take in the economic field: tax, government spending, interest rates and money supply. Our national debt is now growing at the rate of Rs18 billion a day. Our electricity sector now loses nearly Rs2 billion a day. Our State Owned Enterprises (SOEs) collectively end up losing Rs1.8 trillion a year. In the natural…
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After a prolonged suspension of close to 14 months in the International Monetary Fund’s (IMF) $6 billion extended fund facility (EFF) to Pakistan, a staff-level agreement to release the third tranche of $500 million was reached this week. The resumption in the facility comes after the PTI government, after having resisted at first, was forced to hike power tariffs, energy…
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CPEC projects not only bring electricity to us, but also train professionals, and contribute to the well-being of local people for Pakistan, said Muhammad Muneeb, a senior official of Sahiwal Coal-fired Power Station, who awarded the Outstanding Pakistani Employee of CPEC Project by the Chinese Embassy, according to a report published by Gwadar Pro on Saturday. The Sahiwal project, initiated…
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