Month: February 2021

Israel to link Leviathan gas field to Egypt LNG plants

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OCCUPIED JERUSALEM: The Israeli and Egyptian energy ministers have agreed to build a pipeline to connect Israel’s offshore Leviathan natural gas field to liquefied natural gas (LNG) terminals in northern Egypt, the Israeli minister said on Sunday. Yuval Steinitz hosted a meeting with his Egyptian counterpart, Tarek El Molla, as both countries look for new ways to expand the development of east Mediterranean natural gas. The Leviathan field, located 130 km (80 miles) off Israel’s coast, already supplies the Israeli domestic market and exports gas to Jordan and Egypt. Its…

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Is Another LNG Glut Looming?

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Global natural gas demand is set to return to pre-crisis levels as early as this year and will continue to rise in the coming years, thanks to the coal-to-gas switch in Asia, particularly China. The growing gas demand will drive more liquefied natural gas (LNG) consumption and trade, and producers are gearing up for a new cycle of final investment decisions (FIDs) on projects. The recent record-high LNG spot prices in Asia highlighted the more stable prices of the gas for LNG buyers in long-term supply contracts compared to the…

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Power sector competitive market in jeopardy

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ISLAMABAD: In an unexpected development, the PTI government, which itself earlier applauded the decision on wheeling charges Nepra took on January 11, 2021 to pave way for the country’s industrial sector to thrive with lower cost of electricity, has now emerged as a stumbling block in the way of the decision’s implementation. The Power Division, instead of notifying the decision on wheeling charges of 1 MW for Bulk Power Consumers at Rs1.50-2 per unit, has emerged as a hurdle against the decision, putting aside the clapping of federal cabinet which…

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NEPRA chairman emphasises green energy

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Distributed generation through net-metering is one of the most effective tools to enable renewable power generation at the grass-root level and is one of the key focus areas of the National Electric Power Regulatory Authority (Nepra) for meeting increased electricity demands sustainably, said Nepra Chairman Tauseef Farooqi. Addressing the launch of a research report on ‘Barriers and Drivers of Solar Prosumage: A Case Study of Pakistan’, he said that being a power regulator, Nepra was paving the way for clean energy and establishing a liberalised power market for its consumers.…

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POL products’ prices

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The federal government’s refusal to raise the price of POL products on the recommendation of the Oil and Gas Regulatory Authority (Ogra) for the period 15 to 28 February was made possible not through raising subsidies (which would have been opposed by multilaterals, including the International Monetary Fund, on the legitimate economic grounds that it would be an untargeted subsidy) but through a downward adjustment in petroleum levy collection. This gives rise to three rather disturbing observations. First, Ogra recommends increase or decrease in the prices of POL products by…

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