Energy

June 2, 2024

Global gas market to grow 50% amid energy transformation

The oil and gas industry is undergoing a major transformation as it braces for the eventual long-term decline in oil demand and rising global need for natural gas. As those trends ripple through the industry, growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research. The industry had 73 major projects under development worldwide last year, 30% more than at the beginning of the decade but still 32% below the level in 2014, according to Top Projects, GS Research’s 21st annual analysis of the energy sector. Underscoring this shift, Goldman Sachs Research projects the global gas market will grow 50% during the next five years. We spoke with

October 27, 2022

Dialogue on Energy Crises

Former PM Shahid Khaqan Abbasi for adopting emergency measures to resolve inefficiencies in energy sector to save economy Islamabad: Former prime minister Shahid Khaqan Abbasi has said that inefficiencies in the energy sector have to be addressed on an emergency basis to save the national economy from an utter crash. While addressing a dialogue on “Energy crises and way forward” organized by the Energy Update here at the Islamabad Club, the former PM said that inefficient working of the power and gas sectors had been affecting the entire economy. He said the entire national economy had to suffer when the energy sector couldn’t work in an efficient manner and find solutions to its long-persisting problems as was the case in Pakistan. He told the audience that the energy sector was a large part of the national economy as its inefficient working would affect every economic and financial component in the country.

April 22, 2024

EXCLUSIVE: Assessing the Iran-Pakistan gas pipeline: A solution to Pakistan’s energy crisis?

Officials weigh the impact of the Iran-Pakistan gas pipeline on national energy security amidst mounting US pressure to abandon the plan The rooftop of Vaqar Zakaria’s home in Islamabad is strewn with photovoltaic panels that he says have lowered his electricity bill to virtually nothing. This is countered by the stark contrast in his rising gas costs. “From a steady PKR 800 [USD 2.87] a month, it has risen to PKR 4,000 [$14.38] in the last six months,” he says, during a call with The Third Pole. Zakaria, head of environmental consulting firm Hagler Bailley Pakistan, is fortunate to have a gas supply at home. His situation highlights a nationwide energy paradox where advancements in one sector are negated by crises in another. Gas in Pakistan is widely used for domestic heating and cooking, but across the country, the commodity is becoming increasingly scarce. As citizens consider alternatives, disparity widens

May 8, 2024

Grid vs Rooftop Solar: Navigating Pakistan’s Energy Landscape

In the realm of Pakistan’s power sector, a contentious debate brews between the traditional grid system and the burgeoning rooftop solar initiatives. Dr. Khalid Waleed, an esteemed authority in energy economics, delves into the intricacies of this debate and offers a roadmap for sustainable energy transition. Pakistan witnessed a notable decrease in electricity consumption, a 10% drop from FY2022 to FY2023. While this may seem positive on the surface, it presents challenges for the National Transmission and Dispatch Company (NTDC) and Distribution Companies (DISCOs), entangled in take-or-pay contracts with power plants. The rise of rooftop solar exacerbates this scenario, potentially leading to the infamous solar duck curve, where solar energy peaks during the day and dips at night. The historical context of Pakistan’s power sector planning reveals a pattern of short-sightedness. In response to previous crises, long-term power purchasing agreements (PPAs) were inked, contributing to today’s affordability crisis. Simultaneously, consumers