Month: April 2021

Third-party inspector for testing gas meters named

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ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has appointed an independent third-party inspector for conducting testing of gas meters of industrial and commercial gas consumers to address consumer complaints of overbilling and one-sided fines. “It is circulated for information of industrial and commercial consumers of natural gas/ RLNG that the authority in pursuance of Clause 8.2 of Natural Gas Measurement (Technical Standards) Regulations 2019 has authorised Hydrocarbon Development Institute of Pakistan (HDIP) on its behalf for witnessing inspection of gas meters,” Ogra announced on Tuesday. This inspection “may include…

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PM asks for formula to retire circular debt

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ISLAMABAD: Prime Minister Imran Khan on Tuesday asked the finance and power ministries to sit together and devise a formula to retire the mammoth Rs900 billion circular debt in the power sector without putting any additional burden on electricity consumers. Presiding over a cabinet meeting, the prime minister expressed the fear that circular debt might go up to Rs1.5 trillion by 2023. “The prime minister has asked finance and power ministries to find a way to get rid of the capacity charges issue without increasing electricity tariff,” Information Minister Fawad…

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LNG industry rebounding from pandemic

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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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Philippines approves Vires Energy’s application for integrated LNG project

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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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Circular debt to remain over Rs1.1tr by 2023

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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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