Power sector: Pakistan’s average surplus capacity to cross 4,000MW

LAHORE: The annual average capacity surplus of Pakistan’s power sector is likely to increase 15% against projected demand because of over-commitment of power generation projects. The surplus will translate into annual average of more than 4,000 megawatts, according to a report launched by the Energy Institute of Lahore University of Management Sciences (LUMS). The report, titled “Pakistan’s Electricity Outlook 2020-25”, critically…

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IMF to hold talks from February 3 under $6 billion EFF

Pakistan and International Monetary Fund (IMF) will hold talks starting from February 3 for the second review under the US$6 billion Extended Fund Facility (EFF). This was confirmed by IMF Resident Representative Teresa Daban Sanchez here on Thursday. She said, “The IMF and Pakistani teams are already conducting preparatory work on the issues pertaining to the second review and the…

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Circular debt: Competitive bidding to be arranged for raising Rs200 bn from banks

ISLAMABAD: The Power Division will arrange open competitive bidding to raise Rs200 billion under Sukuk-II from banks or consortium of banks at lowest interest rate and the amount will be utilised for partial cash settlement of the circular debt that has risen to Rs1.7 trillion in toto, which is 4 percent of GDP of Pakistan. “Yes, we are going to…

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Excelerate Energy and Engro Elengy Terminal Agree to Expand Pakistan LNG Import Terminal

Islamabad, January 30: Excelerate Energy L.P. (Excelerate) and Engro Elengy Terminal Ltd (EETL) have signed a Heads of Agreement (HOA) for the expansion of the EETL liquefied natural gas (LNG) import terminal located in Port Qasim, Pakistan. Under the agreement, Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with a newbuild FSRU, Hull 2477, which is currently under construction at Daewoo Shipbuilding and…

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LNG Prices Fall To 10-Year Low

The global gas glut continues to grow worse, with LNG prices recently dropping to a 10-year low.close [x]PlayUnmuteLoaded: 100.00%Remaining Time -1:01Picture-in-PictureFullscreen LNG prices in Asia recently fell below $4/MMBtu, down 40 percent from a year earlier. Prices in NW Europe (TTF) are down by nearly 50 percent, and Europe has record-high inventories for this time of year. Mild weather in Asia, Europe and the…

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Int’l Conference on LNG on Friday Jan.31

Nadeem Babar  will inaugurate  the conference IslamabadSpecial Assistant to Prime Minister on Petroleum Nadeem Babar will inaugurate a daylong conference on Liquefied Natural Gas (LNG) at a hotel in Islamabad on January 31st, 2020 (Friday) with special focus on countrywide gas shortfall amid severe spell of cold weather. The Energy Update, which has to its credit 10 editions of Power…

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