Day: May 29, 2021

LNG-Asian spot prices rise on summer demand for air-conditioning units

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Asian spot prices for liquefied natural gas (LNG) rose this week, as buyers stocked up the power-generating fuel on anticipation that a warmer-than-usual summer will spur demand for air-conditioning units. The average LNG price for July delivery into Northeast Asia LNG-AS was estimated at about $10.30 per million British thermal units (mmBtu), up 70 cents from the previous week, industry sources said. Temperatures in Beijing, Tokyo, Seoul, and Shanghai are expected to be higher than average over the next two weeks, weather data from Refinitiv Eikon showed, which could increase…

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Russia’s first LNG refuelling ship completes sea trials

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Russia’s first ship designed to run on liquefied natural gas (LNG) and fuel other vessels with LNG has completed its sea trials, energy firm Gazprom Neft reported on Friday. The Dmitry Mendeleev is expected to enter Gazprom Neft’s fleet in the second half of this year, the company said. “The next stage will be the testing of systems for loading, storing and discharging of LNG,” it said. The Dmitry Mendeleev is an Arc4 ice-class vessel which will able to transport up to 5,800 cubic metres of LNG. It will operate…

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IMF terms

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As the budget-making exercise is coming to a close, the government appears to be facing a tough challenge to finalize the budgetary targets. The IMF terms are a hard nut to crack, and the government is bound to consult the IMF, which is hinting at slapping additional taxes to the tune of Rs500 billion in the upcoming budget. The IMF is not keen on increasing salaries of government employees whereas the government is under tremendous pressure to give a much-needed raise to its staff which is facing the brunt of…

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Pakistan’s GDP expected to hit 4.8% next fiscal year: Asad Umar

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The country’s gross domestic product (GDP) growth is expected to move up to 4.8% in the financial year 2021-22, Federal Minister for Planning and Development Asad Umar said Friday. Umar, going over the government’s progress in the current fiscal year during a press conference in Islamabad, said in the nine months of the current fiscal year, IT exports showed growth of 46%.https://6bb2a8965fcf7c36cb4f901b12757977.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html Umar said the country had “witnessed a strong growth” during the fiscal year, and it is expected that the remittances would shoot up from $21.7 billion to $29.1…

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Cheap Hydro Power for Far off Industrial Estates

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Mohmmand Dam construction was recently inaugurated by the Prime Minister. Similarly many other dams are also in the process of construction in KP and other provinces. With so many dams producing Hydel power that would need to be transported to populated areas would result in massive line losses that would be a wastage. Therefore with the launch of every new Hydel Power project, the Government should also launch an Industrial Estate project in the area. The Government can offer cheap fixed rate electricity to new Industries that would setup in…

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