ISLAMABAD: Pakistan State Oil (PSO) has voiced fear that circular debt related to the liquefied natural gas (LNG) supply chain, which has already piled up to Rs447 billion, will continue to increase. In a recent corporate briefing on the company’s performance in first nine months of financial year 2022-23 and its operational dynamics, PSO highlighted concerns over the mounting LNG-related…
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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the framework agreement between Pakistan LNG Limited (PLL) and State Oil Company of Azerbaijan Republic (SOCAR) for LNG import and funding of Rs157.734 million for the Heavy Electrical Complex (HEC). The ECC also approved Rs404.769 million to meet maintenance requirements of the 6-Aviation Squadron. Top official sources said that…
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ISLAMABAD: Pakistan LNG Limited (PLL) on Monday withdrew its termination notice for the operation and services agreement (OSA) with the Pakistan GasPort Consortium (PGPC) that owns and operates the LNG terminal-2, after losing a case in the London Court of International Arbitration (LCIA). The arbitral tribunal appointed under the LCIA Rules, 2014, on April 26, 2023, issued its award in…
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