ISLAMABAD: The Cabinet Committee on Energy (CCoE) on Thursday did not approve payment of Rs399 billion to independent power producers to let all the members satisfy their conscience in three days if the finalised deals are prudent and no wrong decision is being imposed. Presided over by Minister for Planning and Development Asad Umar, the committee also desired that sponsors…
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SINGAPORE: Pakistan State Oil (PSO) is seeking a liquefied natural gas (LNG) cargo for delivery in April through a tender after a five-year contract with commodity trader Gunvor expired in December, three industry sources told Reuters. If awarded, this will be the state-owned company’s first spot purchase in about three years, two of the sources said. PSO last sought spot…
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LAHORE: In a bid to cut down reliance on the national grid, Punjab plans to generate over 5,000MW electricity — including 300MW through launch of several small hydropower projects — under short, medium and long-term strategies by 2024. The province has also floated tenders to launch construction of 12 mini hydropower projects before June this year, Dawn has learnt. “Save electricity for…
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ISLAMABAD: As the international market continued its downward journey, state-run Pakistan LNG Limited (PLL) has received cheaper bids for two cargoes of liquefied natural gas (LNG) for deliveries in April. The PLL on Friday said Vitol Bahrain offered the lowest bids of 1.0522 per cent and 10.88933pc of Brent Crude Price for April 5-6 and April 19-20 delivery windows, respectively.…
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The Sindh Environmental Protection Agency (SEPA) has expressed its disapproval of the car and cement manufacturing plants over non-compliance with green laws and in this regard the authority has also fixed separate hearings to inquire about the position of companies. SEPA Director General Naeem Ahmed Mughal visited different automobile industrial units on Tuesday, including that of Kia Motors and Master…
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ISLAMABAD: The move by the Maritime Affairs Division (MAD) for creating a monopoly of two private LNG terminals, which are not yet visible on the ground, on the existing pipeline capacity has got scuttled as a sub-committee on the issue, headed by Asad Umar, has clearly opposed the move, saying the concessions proposed to the original terms of the provisional…
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At a time when the government is suspending gas supply to the industry that generates its own electricity, Agha Steel Industries has announced plans to install a 2.25-megawatt solar power project. According to a notification sent by the company to the Pakistan Stock Exchange (PSX) on Wednesday, it has signed a contract with Renewable Power Private Limited for installation of…
Read MoreISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday allowed continuation of gas supply to Fauji Fertiliser Bin Qasim for another five years and removed a cap on dividend distribution on Mari gas to facilitate divestment of about 20 per cent of its shareholding. A meeting of the ECC presided over by Minister for Finance and Revenue Dr…
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Tabeer Energy and Energas, were pressing the Port Qasim Authority (PQA) and the government to win waiver from the commitments included in the implementation agreement (IA). Their plans to set up LNG terminals have also been delayed.Tabeer Energy’s consultant Japan Marine Science said it would address PQA’s concern regarding TEPL’s stance on maintaining the original jetty location. Tie-in-point coordinates were…
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As the private sector is engaged in setting up liquefied natural gas (LNG) terminals, it has sought guarantees and waivers from some obligations and regulatory approvals. Interestingly, the existing LNG terminals have plans to replace the Floating Storage and Regasification Unit (FSRU) without financial risk for the government but the maritime affairs minister opposes the plan. The government has allowed…
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