Saudi Arabia could save some $200 billion over the next ten years by switching from crude oil to natural gas and renewables for electricity production, Reuters reports, citing the Kingdom’s Finance Minister. “Instead of buying fuel from the international markets at $60 and then selling it at $6 for Saudi utilities, or using some of our quota in OPEC to…
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Last week saw some much-needed good news for natural gas. The European Union signaled that it would include natural gas in its energy plans for the future, emissions and all. The not-so-good news is that speaking of emissions, the EU might oblige suppliers to minimize these as much as is possible. In the early days of the rush to cut…
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France’s supermajor Total declared force majeure on Monday on its US$20-billion liquefied natural gas (LNG) project in Mozambique following recent Islamist militant attacks in towns close to the site. The project site is close to the town of Palma in the Cabo Delgado province, where Islamic State-affiliated militants have been active for a few years now. Last month Islamic State-affiliated…
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Canada has repeatedly been raising with top U.S. officials, including President Joe Biden, the issue with Enbridge’s Line 5 which Michigan wants shut down, and considers intervening in the legal dispute between the pipeline operator and the U.S. state, sources with knowledge of Canada’s plans told Reuters. The Line 5 pipeline saga – although not as spectacular as the killing…
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Civil society activists have demanded the establishment of a parliamentary commission to investigate the failures of planning and regulatory processes aimed at making the power sector technically efficient, financially sustainable and responsive to the imperatives of climate change. They criticised the ‘misplaced’ priorities set in the Integrated Generation Capacity Enhancement Plan (IGCEP)-2047 and Competitive Trading Bilateral Contract Market (CTBCM) reforms.…
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Beijing China-origin entrepreneur Kohala Hydropower Company Ltd and Azad Jammu Kashmir government Friday signed an agreement regarding the implantation of water uses of the upcoming CPEC-sponsored Kohala Hydropower project being construction over Jhelum river passing through AJK’s capital district of Muzaffarabad. The project will produce 1,124 megawatt electricity costing $2.4 billion. Azad Jammu & Kashmir Secretary Electricity Zafar Mehmood and…
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ISLAMABAD – The financial close for 1263 MW re-gasified liquefied natural gas (RLNG) based Punjab Thermal Power Ltd (PTPL) has been achieved. Financial closing documents of the power project to be completed at the cost of $708 million were signed here Friday by Private Power and Infrastructure Board (PPIB) Managing Director Shah Jahan Mirza, and PTPL Chief Executive Officer Akhtar…
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Karachi (UrduPoint / Pakistan Point News – 23th April, 2021) Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and Former Provincial Minister Mian Zahid Hussain on Friday said the plan to burden electricity consumers with an additional Rs.1000 billion will distress them while adding to the inflation. Coronavirus has already…
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Energy firms and financial institutions have been eyeing LNG to power projects in Asia Pacific for some time but these projects have not materialised as anticipated. Of late, however, interest in developing these projects has resurfaced. What has changed in the past several years? What are the challenges and opportunities facing these projects? This article touches on the key points…
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Mining companies awarded blocks in Egypt’s Eastern Desert are set to start exploring for gold under a legislative overhaul that seeks eventually to unlock vast untapped mineral resources. Despite plentiful reserves and a rich mining history that gave rise to elaborate Pharaonic gold jewellery, Egypt has just one commercial gold mine in operation. Foreign investment in oil and gas has…
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