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Pakistan has succeeded in securing cargoes of liquefied natural gas (LNG) from Qatar at competitive price to meet winter demand amid unprecedented surging energy costs for the consumers. “We have got most LNG cargoes in line for November, December and January period,” said Federal Minister for Energy, Hammad Azhar on Thursday. The government has been able to source LNG cargoes for winter months from Qatar under long term deal. “Some of the import shipments are from the new Qatar agreement at 10.2 percent of Brent,” Azhar added. The minister confirmed…

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The Senate Standing Committee on Finance has recommended to the Federal Board of Revenue (FBR) to immediately withdraw its new instructions with regard to attachment of the bank accounts for recovery of tax and intimate the chairman secretariat in this regard. The finance committee also strongly opposed mandatory condition of the corporate sector to make payments through digital payment mode. The meeting presided over by Senator Talha Mahmood after hearing the view point of the Member Operation FBR, Qaiser Iqbal, and input of the members of the committee unanimously, decided…

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By the end of the decade, the production of plastics is set to outpace coal-fired power plants in terms of greenhouse gas emissions, further frustrating efforts to combat climate change as many countries move away from coal, according to a report released Tuesday. The report by Bennington College and Beyond Plastics projected that the plastic industry releases at least 232 million tons of greenhouse gases each year throughout its lifecycle from the drilling for oil and gas to fuel its facilities to the incineration of plastic waste. That is the…

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Minister for Energy Hammad Azhar and Minister for Maritime Affairs Ali Zaidi are, said to have locked horns over the issue of handling of Q-Flex vessels, especial vehicles to carry liquefied natural gas (LNG), at Port Qasim, well informed sources told Business Recorder. On October 4, 2021, the Cabinet Committee on Transport of Logistics (CCoT&L) while discussing the issue regarding handling of Q-Flex vessels at Port Qasim Karachi, Ministry of Maritime Affairs asked CCoT&L to direct Pakistan Gas Port Consortium Limited (PGPCL) to undertake dredging of berthing basin as per…

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The government’s plan to establish two new LNG terminals appears to be in limbo as Minister for Maritime Affairs is unhappy at the volume of capacity for the two terminals, arguing that allocation of pipeline capacity, as proposed by the Petroleum Division, may not serve the purpose, well informed sources told Business Recorder. On October 8, 2021, the Petroleum Division briefed the Cabinet Committee on Energy (CCoE) that as directed by the Oil and Gas Regulatory Authority (OGRA), Sui Northern Gas Pipelines Limited (SNGPL) will allocate 250-300 MMCFD pipeline capacity to…

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