Sale of LNG-Based Power Plants Faces Delay

ISLAMABAD: Pakistan’s plan to raise around $1.5 billion from the privatisation of two power plants is facing delay as only one foreign investor has submitted documents amid uncertainty caused by Prime Minister Imran Khan’s decision to skip the Kuala Lumpur Summit 2019.Foreign investors of Malaysia, China, Qatar, the United Arab Emirates and Saudi Arabia had initially shown interest in taking part in the international competitive bidding for the sale of two liquefied natural gas (LNG)-fired power plants.About 19 firms procured documents from the Privatisation Commission including around 14 foreign firms…

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Centre To Consult Provinces On Gas Royalty, Water Distribution

ISLAMABAD: The Centre on Monday decided to take the provinces on board on issues of royalty on gas, distribution of water and appointment of chairman and members of the Water and Power Development Authority (Wapda). The decisions were taken at a meeting of the Council of Common Interests (CCI) presided over by Prime Minister Imran Khan. It was attended by chief ministers Usman Buzdar of Punjab, Mahmood Khan of Khyber Pakhtunkhwa, Syed Murad Ali Shah of Sindh and Jam Kamal Khan Alyani of Balochistan. The meeting approved all conditions of…

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Gas Supply To Power Sector Curtailed

LAHORE: As hydel power generation considerably squeezed to just 1,700MW on average in the last 24 hours, the gas shortfall in Punjab and Khyber Pakhtunkhwa jumped to 400MMCFD on Monday, forcing the authorities to curtail supplies to power sector. “Though the gas supply to the CNG sector and industry has already been suspended for an indefinite period to ensure provision of gas to domestic users and zero-rated export industry, massive reduction in power generation has left the distribution companies, including the Lahore Electric Supply Company (Lesco), with no other option…

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PPL Finds Gas in Sindh, Balochistan

KARACHI: Pakistan Pet­­r­o­leum Ltd (PPL) ann­ou­nced two discoveries on Monday. A notice to the PSX info­rmed of hydrocarbon discovery in exploratory well, Bitro-I, in Latif Block loca­ted in Khairpur District, Sindh, by the Joint Venture Partners of the Latif Explo­ration Licence. The company holds 33.30pc working interest in the block. The second notice to the exchange related to hydrocarbon discovery in the first exploratory well, Margand X-I, in Margand Block (2866-4) that is operated by the company and holds 100pc interest in it.PPL SAID THAT IT WAS THE FIRST DISCOVERY…

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Debt Continues To Plague Pakistan’s Energy Chain

ISLAMABAD: Energy prices are rising consistently, so is the cost of doing business, which ultimately dents competitiveness of Pakistan. At the same time, the high prices are not enough to slash the growing circular debt in the energy chain. Though the government has taken measures to tackle the circular debt by curtailing losses of energy companies and checking power theft along with improved bill recoveries, the debt continues to plague the entire energy chain. The elimination of circular debt requires politically unpopular moves such as strict action against power theft and…

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Egypt To Begin Gas Imports From Israel Next Month

CAIRO: Egypt will begin importing natural gas from Israel by mid-January 2020, Israeli Energy Minister Yuval Steinitz told Israel Radio on Sunday. “(The exports) will begin in the middle of next month and perhaps even earlier,” he said. Israeli gas exports to Egypt will gradually reach 7 billion cubic metres, a senior industry source, who earlier in the day disclosed a mid-January starting date, said. Steinitz said Egyptian petroleum minister Tarek El Molla had spoken to him two days ago and congratulated him on signing export permits for the gas. Egyptian company…

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Prolonged Cng Closure Hits Road Users Hard Financially

KARACHI: The closure of CNG stations for a longer duration has proved to be a great burden on the pockets of consumers as rickshaw and taxi drivers are demanding exorbitant fares while peak factor on ride-hailing services has remained a constant irritant owing to lack of public transport. The current week also saw a huge rush of people at bus stops waiting for public transport vehicles as buses were taking too long to reach their designated stops because of being a few in numbers. A number of transporters had also…

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Govt Springs Into Action As Gas Crisis Deepens

LAHORE: With a sudden drop in temperature across the country, the ongoing gas crisis deepened on Sunday as the total shortfall surged to 600 million metric cubic feet a day (MMCFD) that may compel the Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) to curtail the supply to sectors other than domestic consumers. The shortfall has affected not only the supply to domestic consumers but also to the Compressed Natural Gas (CNG) sector for the past several days. Addressing a press conference in Sialkot on Sunday, Special Assistant…

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Gearing Up For A Fossil Fuel–Free Society — II

The first part of this article, published on Dec 9, highlighted how China is dominating the global production of lithium ion batteries (LIBs) and how Pakistan stands to learn from its experience. Globally, electric vehicles (EVs) have been the main drivers of investment in LIB production. LIBs constitute 40-50 per cent of the cost of an EV. Over 80pc of the future LIB demand is expected to come from EVs. The remaining demand will come from applications like stationary storage and consumer electronics. The government recently announced its National Electric Vehicles Policy…

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Kuwait Hopes To Resolve Neutral Zone Oil Issue With Saudi Arabia By Year End

The two countries halted output from the jointly-run oilfields — Khafji and Wafra — in the so-called Neutral Zone more than three years ago, cutting some 500,000 barrels per day of heavy crude or 0.5 per cent of global oil supply. Production cuts by the Organisation of the Petroleum Exporting Countries and rising demand from new refineries in Asia for heavy oil have supported Middle East crude prices. “We hope that by the end of the year things will be cleared out and things will go back to normal,” Kuwaiti…

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