Day: April 1, 2021

Power rates hike in an economy like that of Pakistan not only further depresses the national economy, but also inflicts inflationary effects on general price structure for the common man of the country. It is a single factor, which adversely hits the lives of the poor and middle level citizens. The industry and agriculture are seriously affected in costs of production, resulting in the consequential impact. An analysis of the factors resulting in power rates would boil down to mismanagement of the power system,  especially due to high technical losses…

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ISLAMABAD: Pakistan LNG Limited (PLL) has received 42 bids from a record 12 international traders for the eight liquefied natural gas (LNG) cargo deliveries between April 30 and June 28 against prices that are significantly higher than comparable period last year. According to the bidding results finalised by PLL, Eni SpA of Italy secured three cargoes with the lowest prices while Qatar Petroleum and PetroChina won two cargoes each. Vitol Bahrain grabbed one cargo. This was the first time that the LNG importer had sought open tender in fixed dollar…

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Qatar Petroleum has announced that it will become the 100% owner of Qatargas Liquefied Natural Gas (QG1), the holding company of an LNG project in Qatar, effective from 1 January 2022. OG1 was established in 1984 to produce LNG and related products from Trains 1, 2 and 3. Each of the trains have a production capacity of 3.3 million tonnes per annum (mtpa). It is jointly owned by Qatar Petroleum (65%), ExxonMobil (10%), Total (10%), Mitsui (7.5%), and Marubeni (7.5%). Upon the expiry of the relevant agreements on 31 December…

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Buenos Aires — Argentina’s government expects a pricing incentives program will turn around a slide in natural gas output in the next few years, but LNG imports are poised to rise this year, including via a possible second floating storage and regasification unit (FSRU), Energy Secretary Dario Martinez said. Producers are investing in [gas] resources,” he said late March 30 in an interview with Telefe Neuquen, a local TV broadcaster. “We want to create a virtuous cycle that guarantees more gas for Argentina and reduces gas imports.” The secretariat launched the…

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SSGC reiterates that it has never been in a practice of over-billing its esteemed customers, as it raises gas bills in accordance to the actual meter readings obtained from the gas meters installed at the customer’s premises. It is only in the proven case of slow or defective meters when the Company has to recover the charges calculated as a result, from the customers. At the outset the PUG phenomenon that has to be clearly understood. If the gas meter due to any technical reason whatsoever, ceases or omits to…

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