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The Cabinet Committee on Energy (CCoE) on Thursday issued directions for activation of a task force as required under LNG Policy 2011 and asked the ministries of Maritime Affairs and Energy to come up with their considered views with clarity on how to allow additional future Liquefied Natural Gas (LNG) imports through Gwadar Port. The meeting of the CCoE presided over by Minister for Planning and Development Asad Umar took up a report by a committee led by Deputy Chairman Planning Commission Dr Jehanzeb Khan on the establishment of LNG…

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State-owned companies are paying the price of overcoming the gas crisis in winter season, which adds billions of rupees to the circular debt due to diversion of expensive liquefied natural gas (LNG) to residential consumers without any legal framework. The provision of LNG to the domestic sector is going to hit the public gas utilities hard, as the imported gas supply will add another Rs50 billion to the circular debt, say industry officials. Receivables of Pakistan State Oil (PSO), a state-run oil marketing company which also imports LNG cargoes from…

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Natural gas prices see-sawed Tuesday as traders weighed modest near-term domestic heating needs against an anticipated freeze early next month and surging demand for U.S. liquefied natural gas (LNG). Ultimately, the latter factors carried the day, and the January Nymex gas futures contract advanced 3.5 cents and settled at $3.869. February gained 1.6 cents to $3.774. At A Glance: U.S. exports of LNG hold strong Weather picture to brighten early in 2022 Northeast demand bolsters cash prices NGI’s Spot Gas National Avg. rose 13.5 cents to $4.750 on Tuesday, bolstered by advances…

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People need warm water especially for their morning baths, but the country has long depended on gas geysers, which have been rendered almost useless amid a worsening gas shortage. Since a total shift to electric geysers may prove too expensive, many consumers have shown keen interest in hybrid gas-electric geysers as well as small instant geysers. The hybrid geysers have been made available on the market and the demand continues to rise. Difference between gas and electric geyser A geyser is basically a tank made of steel sheets to hold…

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European and UK gas prices rocketed on Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key supplier Russia and consumer nations. Europe’s reference Dutch TTF gas price jumped nearly 20 percent from Monday to hit 175.00 euros per megawatt hour in early afternoon trading. Meanwhile, UK prices leapt to 4.35 pounds per therm. Both markets beat previous records from October, also struck on demand worries for the northern hemisphere winter months. They are currently about seven times greater than at the start of 2021. Record…

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