Day: April 27, 2021

Industry analysts were raising concerns about a glut of liquefied natural gas coming onto global markets when the coronavirus pandemic hit in early 2020. As national economies shut down and energy demand plummeted, the future of the industry and multibillion-dollar LNG export terminals along the Gulf Coast looked grim. A year later, however, LNG has bounced back, recovering faster than the oil industry and resuming its expansion, The Houston Chronicle reports. The Houston LNG company Cheniere Energy recently completed its third processing unit at its Corpus Christi, Texas, complex while…

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GlobalData’s free bi-weekly Covid-19 report on the latest information your industry needs to know. The Department of Energy (DOE) in the Philippines has approved Vires Energy’s (VEC) notice to proceed (NTP) application for the proposed integrated LNG project in the province of Batangas. The proposal includes the construction of a liquefied natural gas (LNG) storage and regasification terminal project. Philippines DOE Secretary Alfonso G Cusi said: “The proposed integrated natural gas-fired power plant and LNG storage and regasification terminal project of Vires Energy Corporation will boost the attainment of our…

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Documents seen by Dawn suggest that a combination of ambitious policy actions will rein in circular debt growth to the extent of over Rs2tr in two years. The average tariff is projected to be Rs20.25 per unit by FY2023 from a little over Rs15.4 per unit at present. The plan envisages that there will be no additional coal-based power plant in the near future and all of the already commissioned and under construction imported coal-based IPPs of about 5500mw and Jamshoro-1 will be converted to Thar coal from the existing blocks 1…

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Lacklustre bureaucratic approach and inconsistent policies have resulted in losing $5 billion committed investment from Qatar in RLNG power plants, refurbishment of airports and hotels here in Pakistan and now it has been diverted to Bangladesh. Now Qatar’s Nebras Power Investment (QEWS QD) has acquired equity stake in Bangladesh’s Unique Meghnaghat Power. Also, the Nebras Power Investment Management has signed a sale and purchase agreement (SPA) with Unique Hotel and Resorts Limited (UHRL) to acquire a 24pc equity stake in Unique Meghnaghat Power Limited (UMPL) in Bangladesh. This acquisition enhances…

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Studies have been conducted in various countries around the world, notable of which was in Sri Lanka and Pakistan in the 1990s on the economic loss of unsupplied electricity. It was found that every kilowatt (kW) that was not supplied had an economic cost of at least $1/Kwh — Sh108 — and resulted in major dips in the gross domestic product of a country. Allow me to park this thought for now and revisit it towards the end of this article. Last week, President Uhuru Kenyatta gazetted the appointment of…

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