Month: March 2021

Low LNG offtake puts pipelines at risk

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Efforts made by Sui Northern Gas Pipelines Limited (SNGPL) and Pakistan LNG Limited (PLL) to control the liquefied natural gas (LNG) supply chain have put an additional burden of millions of dollars on consumers and posed a threat to the gas pipeline network. Over the past couple of weeks, SNGPL has reduced LNG offtake from Pakistan State Oil (PSO) and PLL as its pipeline network is at risk and is on the verge of bursting due to reluctance of consumers to receive expensive gas supplies. Sources told The Express Tribune…

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KP signs pact for 300MW Balakot hydropower project

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PESHAWAR: The Khyber Pakhtunkhwa government on Tuesday signed an agreement with a Chinese company for the construction of the 300-megawatt Balakot hydropower project. The 300MW project — said to be the biggest-ever power generation plant in the province — would be constructed with an estimated cost of Rs85 billion in a period of six years with the financial assistance of the Asian Development Bank, said an official statement. At the signing ceremony, Khyber Pakhtunkhwa Chief Minister Mahmood Khan was the chief guest. Officials of the Pakhtunkhwa Energy Develop­ment Organisation (PEDO)…

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Discos allowed 90-paisa hike in fuel cost for January

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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday notified about 90-paisa per unit increase in electricity rates for ex-Wapda Distribution Companies (Discos) to generate about Rs6.9 billion additional revenue to the troubled power sector. The increase was allowed on account of monthly fuel cost adjustment (FCA) for electricity consumed in January. This would be charged to consumers in the current billing month. The tariff increase will be applicable to all consumers except lifeline consumers ie 50 units per month. This FCA is also not applicable to K-Electric consumers.…

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Eni exits Pakistan, sells assets to local JV

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LAHORE: The Italian energy company, Eni, has sold its assets in Pakistan to Prime International Oil & Gas Company, a newly established joint venture (JV) between its local employees and Hub Power Company, in line with its 2021-24 business plan to dispose of its non-key assets to raise cash after the global downturn triggered by the Covid-19 pandemic and to move towards cleaner fuels. A statement posted by the oil and gas exploration firm on its website said the sale of its Pakistani assets aligned to its wider strategy of…

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GHANI GLOBAL GROUP TO VENTURE INTO HIGH LEVEL ENERGY STORAGE TECHNOLOGY MARKET

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Ghani Global Limited (PSX symbol: GGL), a Lahore based Islamic-commerce oriented industrial and manufacturing group, has announced its foray into the manufacturing of sophisticated technology for enhancing energy storage efficiency by way of production of long-life supercapacitor batteries in Pakistan. The project shall be completed in a joint venture arrangement with M/s Kilowatt Labs Inc., New York, USA. The global energy storage technology market is projected to increase 2.5-4 terawatt-hours (TWh) annually by 2030. According to the Report on Energy Storage Market of December 2020 of the US Department of…

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