Solar industry needs special tax regime for energy independence of Pakistan

Karachi: The solar industry in Pakistan deserves a special and viable tax regime to enable it to unlock its true potential and to help the country in its drive to become self-reliant and independent in the energy sector with the least harm to the environment. This demand was made by the representatives of the solar industry who participated in the webinar organised by the Energy Update. The webinar was organised to discuss the issues of the taxation system and standardization of the products of the solar industry in Pakistan. Participating…

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S Korea’s LNG demand forecast to rise 15% through 2034: ministry

South Korea’s energy ministry said April 27 that the country’s LNG demand is expected to rise 15.1% through 2034 on the back of higher LNG demand for bunkering and hydrogen fuel cell cars, as well as a government-led push to reduce power generation by coal and nuclear. The country’s LNG demand is forecast to grow to 47.97 million mt in 2034, compared with this year’s estimated consumption of 41.69 million mt, the Ministry of Trade, Industry and Energy said in its Long-term Natural Gas Supply Plan. LNG demand for power…

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Study: Expanding Renewable Energy in Illinois to 40% by 2031 Will Save Consumers and Businesses $1.21 Billion

A study performed by the Power Bureau, led by former Illinois Power Agency Director Mark Pruitt, finds that fully funding the expansion of Illinois’ renewable energy program will result in lower electric bills for Illinois ratepayers. The study, “Cost Analysis of Renewable Energy Deployment in Illinois,” compared the additional funding needed to reach a 40% renewable energy goal with the impact the additional renewables would have on wholesale energy and capacity prices, and the direct savings realized by rooftop and community solar customers. It found that reaching 40% renewable energy will…

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Renewable Energy Is Suddenly Startlingly Cheap

Earth Week has come and gone, leaving behind an ankle-deep and green-tinted drift of reports, press releases, and earnest promises from C.E.O.s and premiers alike that they are planning to become part of the solution. There were contingent signs of real possibility—if some of the heads of state whom John Kerry called on to make Zoom speeches appeared a little strained, at least they appeared. (Scott Morrison, the Prime Minister of Australia, the most carbon-emitting developed nation per capita, struggled to make his technology work.) But, if you want real…

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Malaysia’s Petronas adds three new vessels to global LNG fleet

Malaysia’s state oil firm Petroliam Nasional Bhd has expanded its global liquefied natural gas (LNG) fleet with three newbuild 174,000 cubic metres vessels, the company said on Thursday. The firm has signed an agreement with shipowner Hyundai LNG Shipping for the vessels that are expected to be delivered from the second quarter of 2024 and will mainly be used to lift cargoes from LNG Canada, Petronas said. Petronas said this will enlarge its global LNG fleet to 27 vessels from 24, and help deliver LNG to over 25 countries from…

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NTDC, Pak MLTC agree to extend project’s COD by six months

The government has extended the Commercial Operations Date (COD) of 660 kV HVDC Matiari – Lahore Transmission Line CPEC portfolio project from 1st March to 1st September 2021. Federal Minister for Energy (Power Division) Muhammad Hammad Azhar witnessed the agreement signing ceremony of addendum /amendment in agreement for 660 kV HVDC Matiari – Lahore Transmission Line Project between NTDC and Pak MLTC and amendment No 1 to the Implementation Agreement (IA) between Private Power & Infrastructure Board (PPIB) and the Project Company i.e. Pak Matiari-Lahore Transmission Company (Pvt) Ltd (PMLTC)…

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Tarin defers decision on IPP payments, LNG subsidy

ISLAMABAD: In his maiden meeting of the Economic Coordination Committee (ECC) of the cabinet, Finance Minister Shaukat Tarin deferred taking a decision on two crucial agenda items — payments to independent power producers (IPPs) and how to go ahead with subsidy on LNG supplies to export industries. Presiding over the ECC meeting, the newly inducted finance minister constituted two smaller groups on both subjects to have focused discussions. A cabinet member said Mr Tarin appeared to have certain reservations over handling of the IPPs, but noted that the deals had…

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Hamad Azhar Assures To Start Work On All Approved Power, Gas Projects For Lakki District

PESHAWAR, (APP – UrduPoint / Pakistan Point News – 28th Apr, 2021 ) :Federal Minister for Energy Muhammad Hammad Azhar Wednesday assured that work on all approved power and gas projects for Lakki Marwat would be started soon. Talking to prominent and senior parliamentarian, Humayun Saifullah and Provincial Minister for Social Welfare Dr Hisham Inamullah Khan during a call on meeting at his office in Islamabad, he issued instructions to the concerned authorities to immediately start work on approved projects, said a press release issued here. Expressing gratitude to the…

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LONGi Supports Energy Transformation at Rantex Group

Rantex Pvt Ltd is a leading textile manufacturer, having been established in Pakistan for over 26 years. The project EPC is delivered by Green Volts Energy, a pioneer developer of low-carbon infrastructure in Pakistan and has been one of the most active players in the private solar sector. Green Volts has numerous project experiences, and is the first company to successfully deliver large scale distributed solar project in Pakistan. LONGi Solar’s 535Wp Hi-MO 5 series are chosen for the project given its high efficiency and compatibility in rooftop system installation.…

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Prosecution witness tells AC: No document produced in LNG case

The prosecution witness, on Wednesday, told the Accountability Court that he has not produced any document before it in the Liquefied Natural Gas (LNG) case where in accused former Chairman Oil and Gas Regulatory Authority (OGRA) Saeed Ahmed figured in. The prosecution witness, Abdur Rashid, Director Gas, while recording his statement before Accountability Court-II judge Muhammad Azam Khan, said that there is no document on the record produced by him where in the name of accused former chairman OGRA figured in and no document produced by him in this court,…

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