Year: 2020

Singapore — Global LNG supply is expected to turn tight gradually in the next five years due to the delay of final investment decisions on many LNG projects, which would ultimately lift prices, said participants at the ninth China International Oil and Gas Trade Congress. JKM, the benchmark price for spot LNG in Northeast Asia, dropped to below $2/MMBtu over April-May, the historical low level since it was launched, S&P Global Platts data showed. “Global LNG supply will be moving from sufficient to tight in the next five years, with supply-demand…

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LPG sector should be treated as a major industry and be given all necessary facilities as it is playing a major supportive role in providing cost effective and environment friendly fuel to the middle and lower class, besides providing huge revenue to the government and employment to millions. The demand was raised at a meeting of Pakistan LPG Marketers Association presided over by its Chairman Farooq Iftikhar. Association members and stakeholders also attended the meeting. Farooq Iftikhar said that LPG sector of Pakistan is playing the role of unheralded soldier…

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Rich nations are still providing more than half a trillion Dollars annually to fossil fuel projects despite committing to slash greenhouse gas emissions in line with the Paris climate deal, research showed Tuesday. While state support to oil, gas and coal has dipped slightly since the landmark 2015 accord, a joint analysis by three climate think tanks found that many nations’ post-pandemic stimulus plans will see billions more given to polluting fuels. In a grading of G20 countries’ performance of phasing out fossil fuel subsidies, the analysis found that at least $170 billion of public money had been pledged to fossil fuel-intensive sectors since the start of…

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