European Natural Gas Prices Hit Highest Level in Over a Decade — LNG Recap

Hot weather and limited supplies helped drive European natural gas prices to a 12-year high late last week in a rally that continued Monday. The prompt Title Transfer Facility (TTF) contract closed Friday at $10.237/MMBtu and finished higher on Monday at a level not seen since 2008. European gas prices have been strong since the beginning of the year. Storage inventories were at 44% of capacity on Monday, about 23% below the five-year average and at their lowest level since 2018.  Strong natural gas demand in Asia, where prices are…

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RLNG fiasco – between a rock and a hard place

There is a potential RLNG (or broader electricity) shortage threat looming for July. One of the two RLNG terminals needs dry docking (shutdown for detailed inspection and maintenance). The problem is that the company wants it to happen at the peak season, and this could create gas – in turn electricity – shortage, especially when two of the Sindh gas fields are closed at the same time. This is sending jitters in Islamabad. Engro Elengy Terminal Pakistan is the first LNG import facility in Pakistan. The Floating Storage and Regasification…

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Country likely to witness increased power bills, gas load management

The country is likely to see hike in electricity bills and the government may resort to load management from June to October as SNGPL allocation of RLNG to power sector for these months is up to 54 percent less than the generation requirements of NPCC/NTDC. Against the total requirement planned by National Power Construction Company (NCCP) and National Transmission and Despatch Company (NTDC) of 900 mmcfd for the month of June SNGPL has allocated 639 mmcfd which is 261 mmcfd less than the demand, official source told The Nation. For…

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Ogra to hold two public hearings against SNGPL’s petition

The Oil and Gas Regulatory Authority (Ogra) will hold two public hearings against petition filed by the Sui Northern Gas Pipeline Limited (SNGPL) for estimated revenue requirement (ERR) to meet its expenditure in the financial year 2021-22 and the previous year shortfalls. The oil and gas regulator will hold the first public hearing in Lahore, on Tuesday (June 22), and in Peshawar on Thursday (June 24). The Ogra, through a notification, has already invited all interested/affected persons, including gas consumers and general public, to furnish their comments, objections, suggestions and…

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SSGCL stops supply to CNG stations in Sindh for 176 hours

KARACHI: The Sui Southern Gas Company Limited (SSGCL) has stopped gas supply to CNG stations in Sindh for 176 hours starting from 12am (June 22) to 9am (June 29) owing to gas shortfall. The company had informed station owners that it was facing a shortfall of 160MMCFD due to annual turnaround of Kunnar Passahi field at Tando Allahyar, causing decline in gas availability resulting in depletion of line pack and low pressure in the system. The company said CNG supply the stations had been shut to meet the demand of…

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Sindh CNG stations closed for unidentified period

In the wake of worsening gas crisis in the country, Sui Southern Gas Company (SSG) on Monday announced to suspend gas supply to Compressed Natural Gas (CNG) filling stations across Sindh for an unidentified period from 22nd of June, ARY News reported. According to a spokesperson of Sui Southern Gas Company (SSG), gas supply to CNG stations in Sindh will be suspended for an unidentified period on the directions of the federal government from tomorrow. On the other hand, All Pakistan Petroleum Retailers Association’s office-bearer Sumair Najmal Hussain confirmed that…

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Illinois coal plants are closing even as fossil fuel objections stall energy bill again

Dulce Ortiz teared up during a virtual press conference as she recalled the family dinners and birthday celebrations she’s missed because of her dedication to the seemingly endless campaign to close the coal-fired power plant in Waukegan, Illinois. The surprise announcement on June 17 that the plant will close in 2022 was bittersweet for Ortiz and other members of the group Clean Power Lake County. It came just after a sweeping state energy bill yet again failed to pass, leaving in doubt “just transition” provisions that Waukegan residents say are…

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High gas prices fuel rise in SPP coal-fired power as wind generation flags

In the independent system operator’s territory, wind has generated an average 212,900 MWh, and captured about 26% market share in the generation stack this month. In May, the renewable generated an average 260,600 MWh in SPP, more than 40% of the total market, ISO data shows. As wind speeds ebb, generators across the Midcontinent appear to be opting mostly for coal as a backup fuel. In June, coal power has yielded an average 324,100 MWh, representing about 40% of the ISO’s generation. That’s up from an average 196,200 MWh and…

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Gulf states show ‘limited’ progress kicking oil & gas dependency

The latest report from credit ratings agency Moody’s found that despite ambitions to diversify Gulf economies away from fossil fuels, the results have been ‘limited’ and efforts will be constrained by lower oil prices. The clock is ticking for Gulf economies to end their overreliance on fossil fuels, as more countries around the world pour resources into accelerating their transitions to green energy and a low carbon future. But a report released on Monday from credit ratings agency Moody’s found that despite Gulf Cooperation Council (GCC) states announcing ambitious plans…

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CCI approves National Electricity Policy 2021 to reform power sector: Hammad Azhar

Federal Minister for Energy Hammad Azhar said on Monday that the Council of Common Interests (CCI) had unanimously approved the National Electricity Policy 2021 to streamline matters related to the power sector. “It is a historic time [for the country] as we have succeeded to formulate a national electricity policy which will have its impact in the next five to ten years when our next generations will get inexpensive and eco-friendly electricity, mainly depending on local fuels,” the minister told a news conference. Flanked by special adviser to the Prime Minister…

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