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…
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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,…
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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…
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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…
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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…
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MOSCOW, May 28 (Reuters) – Russia and Pakistan have signed an agreement to build the Pakistan Stream gas pipeline, Russia’s energy ministry said on Friday. Russian Energy Minister Nikolai Shulginov and Pakistan’s ambassador in Moscow Shafqat Ali Khan signed the agreement, the minsitry said. (Reporting by Maria Tsvetkova; Writing by Alexander Marrow; editing by Louise Heavens)
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The water shortages for Sindh and Punjab went up to 32 per cent on Friday as river flows continued to drop and storages at both Mangla and Tarbela dams neared dead level. The Indus River System Authority (Irsa) said it reviewed the overall water situation on Friday and decided to apply 32pc shortages to the two larger provinces instead of…
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The National Assembly’s Standing Committee on Water Resources on Monday endorsed a proposal of the Punjab government for appointment of independent inspectors at critical barrages for spot checking of water losses as the provinces complained about shortages. The meeting of the panel was presided over PPP’s Nawab Yousaf Talpur. Besides members of the committee, the meeting was also attended by…
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In a landmark development, Pakistan and the Russian Federation on Friday signed the amended Inter Governmental Agreement for North South Gas Pipeline (NSGPP) of 1,122 kilometers from Port Qasim (Karachi) to Kasur (Punjab) that will increase the capacity of the country to transport the imported gas from the port city to load center of Punjab. According to a press release,…
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The Federal Investigation Agency (FIA) and Sui Northern Gas Pipelines Limited (SNGPL) board of directors’ audit committee have started probing alleged favours given by a board director to the factories and holdings of Nishat Group. Private sector director Ahmed Aqeel is also facing the same allegations in the National Investment Trust (NIT) case. He has been on SNGPL board for…
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