Lucky Cement Limited, one of Pakistan’s biggest cement manufacturers, announced entering into an arrangement with Orient Energy Systems (Private) Limited, an engineering company, for the supply and installation of 25.3 MW captive solar power project at its Karachi plant. In a notice sent to the Pakistan Stock Exchange (PSX) on Wednesday, the cement manufacturer shared that the estimated cost of…
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2022 has seen the specter of government interventions envelop gas markets: whether it’s price caps, encouraging benchmark diversification, pooling procurement in a centralized platform or using state-owned banks to directly buy LNG cargoes, all ideas appeared to be on the table. While pipeline gas and LNG share several fundamental attributes, they are also different in many aspects. In this flurry…
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The government should develop a robust institutional framework for the implementation of the revised policy so that EVs are introduced on a large scale as soon as possible. The report is jointly compiled by various Chinese and Pakistani organizations including NUST Energy Center, Sustainable Development Policy Institute (SDPI), All Pakistan Chinese Enterprise Association (APCEA), China Three Gorges South Asia Investment…
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Fearing extreme volatility in the international market during the upcoming years, Pakistan LNG Limited (PLL) has sought exemption from PPRA rules for procurement of approximately 36 LNG spot cargoes for the period from January to December 2023, well-informed sources told Business Recorder. PLL is mandated by the government to import LNG to meet the natural gas requirements of the country.…
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The government Wednesday unveiled its policy on fast-track development of solar PV projects at an investors’ conference to offer projects of 600 MW. The salient features of the policy are: (i) single stage, two-envelope bidding; (ii) straight line tariff; (iii) 70 percent indexation of tariff; (iv) benchmark tariff by Nepra; (v) guaranteed purchase of power; (vi) land and interconnection to…
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Imagine it is 2030, and a chilly November morning. You step out of your house and are welcomed by a clear sky and not a pervasive smog, a common occurrence not so long ago that required you to mask up and forced schools to close down. You start the car and the engine revs up noiselessly and without fumes —…
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In her annual state of the union speech, European Commission president Ursula von der Leyen set out major energy market interventions to manage high prices The European Commission has stepped back from earlier plans to cap the price of Russian gas, proposing instead to set up a new task force with EU member state representatives that will attempt to negotiate…
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Continued volatility has seen oil prices gain 1% on Wednesday, as the market attempts to decipher the latest demand growth, US crude inventory data, inflation indications and the impact of China’s COVID lockdowns. As of 3:33 p.m. EST on Wednesday, Brent crude was trading up $0.53, at $93.73, for a 0.60% gain on the day. WTI was trading up $0.83,…
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In the new era of energy shortages, one aspect of the situation has tended to get overlooked: the transport of energy. Demand for tankers has been on the rise since the European Union slapped sanctions on Russia in the spring, and this trend is only going to intensify in the coming months as the EU embargo on Russian oil and…
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Andrew Forrest’s Fortescue Future Industries says it is looking to build a 9.2GW wind and solar facility that will power green hydrogen production in Egypt, and could also include local manufacturing facilities for wind and solar. Forrest and his team from FFI, the billionaire’s newly formed green energy venture, are on yet another global tour scouting for opportunities to meet…
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