Month: January 2021

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) determined weighted average re-gasified liquefied natural gas (RLNG) price of $8.7316 per mmbtu for the Sui Northern Gas Company (SNGPL) consumers and $8.4687 per mmbtu for the Sui Southern Gas Company (SSGC) consumers for January 2021. The regulator computed the prices of January based at 11 cargoes of LNG. The Pakistan State Oil (PSO) imported LNG through six cargoes, while the Pakistan LNG Ltd (PLL) received five cargoes at spot purchase. The PSO imported cargo calculated of LNG DES price at three-month…

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ISLAMABAD: Amid growing number of suppliers competing for pipeline and terminal capacity, the Cabinet Committee on Energy (CCoE) on Monday constituted a subcommittee to examine in detail the availability of pipeline capacity and how to allocate it for transportation of re-gasified liquefied natural gas (RLNG). Informed sources said the CCoE met briefly under the chairmanship of Minister for Planning and Develop­ment Asad Umar as some of the relevant stakeholders were based in Karachi and appeared to be unable to optimally contribute through video conference. Therefore, Mr Umar constituted the subcommittee…

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THE LNG spot prices have spiked to a multi-year high in recent weeks over the fuel’s rising demand in Asia as winter temperatures in Japan, China and Korea drop to below average levels. The surge in demand for the super-chilled fuel has also led to shortages of LNG cargo vessels, interrupting the supply chain and pushing freight rates to new highs. The unprecedented price volatility in the global LNG market is leading many traders to bail on their earlier supply contracts, and forcing countries to start rationing gas owing to…

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Car assemblers have said that electric vehicles will remain out of the reach of people as these are 140% more expensive than conventional cars despite a recent reduction in taxes, urging the government to instead promote hybrid cars. In a briefing to the National Assembly Standing Committee on Finance on Monday, two big players also blamed the government’s taxation and exchange rate policies for an unprecedented price hike in Pakistan. They said that nearly two-thirds of the price of a car was influenced by high taxes and exchange rate value.…

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ISLAMABAD: The Petroleum Division has strongly opposed the proposal of Maritime Affairs Division for allocating the existing capacity in gas pipeline to the upcoming two new liquefied natural gas (LNG) terminals at Port Qasim, Karachi, saying that they should “come online first”. “These new terminals are only on paper and no construction work has yet been initiated,” the Petroleum Division officials apprised the members of the Cabinet Committee on Energy (CCoE) during a meeting on Monday. They said the suggestion was against third party access rules that allow private parties to market…

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