Month: June 2020

Ogra urged to reduce gas tariff by 40 percent

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ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has been urged to reduce the gas tariff by 40 percent, in line with sharp decline in crude oil and furnace oil globally, and cap the human resource expenditure of the Sui Northern Gas Pipeline Limited (SNGPL), in a public hearing on Determination of Estimated Revenue Requirements (DERR) for financial year 2020-2021, held on Wednesday. Limited number of stakeholders was allowed to participate in the public hearing physically, and few others were taken through virtual link. The two-day public hearing was arranged…

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Consumer groups oppose move to hike gas prices by 110pc

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ISLAMABAD: Strongly opposing a petition for almost 110 per cent higher gas rates, various stakeholders on Wednesday demanded rather substantial reduction in prices in line with drastic fall in international oil prices. The Oil & Gas Regulatory Authority (Ogra) had called a public hearing on the request of Sui Northern Gas Pipelines Limited (SNGPL) which is seeking almost 110pc increase in prescribed prices for fiscal year 2020-21. The hearing was presided over by Ogra Chairperson Uzma Adil Khan. The SNGPL has sought an increase of Rs622.94 per mmbtu (million British…

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ETPL plans first onshore LNG terminal

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Elengy Terminal Pakistan Limited (ETPL), a joint venture between Vopak LNG Holding BV and Engro Corporation, has planned to set up the first onshore liquefied natural gas (LNG) storage and regasification terminal at Port Qasim, Karachi. In this regard, the project management has invited expressions of interest from interested parties, which intend to secure regasification, storage and other operational services (ie bunkering, trucking and reloading) for the project. Subject to final investment decision on the project, the onshore terminal is planned to be developed under a typical industry open access…

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$2.4 bn tripartite agreement signed for Kohala Hydel Power Project; “Biggest ever” investment on single project: PM

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ISLAMABAD, Jun 25 (APP):A tripartite agreement was signed here Thursday between a Chinese company and the governments of Pakistan and China for construction of 1,124 megawatt Kohala Hydropower Project costing $2.4 billion. The signing ceremony, held at PM Office, was witnessed by Prime Minister Imran Khan, Azad Jammu and Kashmir Prime Minister Raja Farooq Haider, federal cabinet members, Chinese Ambassador in Pakistan Yao Jing, China Pakistan Economic Corridor (CPEC) authority, Chairman Lt. Gen. (R) Asim Saleem Bajwa and representatives of Chinese company. It is the largest power sector investment of…

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