Renewable Power Projects Overtake Oil & Gas In Middle East

Countries in the Middle East and North Africa (MENA) awarded as much as US$2.8 billion worth of renewable energy projects in the first half of 2021, compared to not a single contract award for oil- or gas-fueled power stations in the region, MEED Insight’s new report Middle East Energy Transition showed. To compare, the average value of contract awards for oil- or gas-powered stations stood at $4.8 billion annually between 2017 and 2020, according to the report. Last year alone, $6.2 billion worth of oil and gas power plant contracts…

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Local assembly of EV expected to start this year

Minister for Energy Hammad Azhar has expressed hope that under the clean and green initiative of Prime Minister Imran Khan, local assembling of electric vehicles (EVs) would start in the country by this year. Addressing a consultative workshop on ‘scaling up electric mobility in Pakistan’, organised jointly by the National Energy Efficiency and Conservation Authority (NEECA) and UNDP, on Thursday, the minister said that the government has introduced its first national EV policy last year and announced new incentives to promote adoption of electric vehicles. The government reduced the customs…

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IESCO Chief Hiring Draws Concern

Cabinet members have expressed serious concern over the appointment of Amjad Khan as chief executive officer (CEO) of Islamabad Electric Supply Company (Iesco), who had failed to perform while heading other power distribution companies in his earlier stints. While considering the appointment for the post of Iesco CEO, the cabinet members expressed reservations over the quality of the panel and observed that the performance of the principal candidate, during his stints at other distribution companies, was not very noteworthy. The Power Division highlighted that the panel had been selected by…

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SNGPL wants connections quota to be raised to 1.2m

The Sui Northern Gas Pipelines Limited (SNGPL) says that the only way the company can clear its backlog of millions of applications for new connections in Punjab and Khyber Pakhtunkhwa in the next three years is to increase its annual quota to 1.2 million domestic connections. “The company has applied to the regulator — the Oil and Gas Regulatory Authority (Ogra) — to increase its quota to 1.2 million connections per annum, as the existing up to 500,000 connections is insufficient to clear the backlog of 3.2 million applications,” an…

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Expansion of existing LNG terminals opposed

Amid rising number of unaffordable bids, the Petroleum Division has opposed capacity enhancement of existing terminals of liquefied natural gas saying it would lead to competition barrier and create private monopoly. “Allowing Terminal-1 (of Engro Elengy) to expand existing terminal capacity may create the competition barrier and discourage the market for investing in new LNG terminals and infrastructure as there is limited pipeline capacity available for Gas Transport Agreement,” warned Directorate General of Liquid Gases (DGLGs) — a dedicated expert arm of the Petroleum Division. Officials said the government entities…

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Procurement of recent LNG cargoes is line with global average for LNG importing countries: Petroleum Division

Petroleum Division clarifies some facts of media reports on LNG procurement that roughly one-third of our monthly LNG purchases are on “spot” basis (and the remaining two-thirds on long-term contract basis) which is basically in line with global average for the LNG importing countries. It is known that the “spot” LNG commodity price has spiked recently (to over $15 per MMBTU) due to a variety of supply-related issues (e.g. curtailment from Exxon’s facility in Papua New Guinea) and demand-related (higher in China & Japan due to warmer weather) factors. Therefore,…

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Short supply from Iran behind outages in Balochistan: minister

Minister for Energy Hammad Azhar said on Thursday the government has taken up with Iran the issue of reduced electricity supply from the neighbouring country, which is causing hours-long outages in Balochistan. “Power shortfalls in Iran have led to loadshedding in our Gwadar, Turbat and Makran regions. These areas are not connected to the national grid and are dependent on Iranian power supply,” he said on Twitter, adding that Islamabad has requested Tehran to normalise power supply to the affected areas of Balochistan. Pakistan imports electricity from Iran for its…

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Three dead as wildfires blaze on southern Turkish coast

Three people died in a forest fire in southern Turkey on Thursday where authorities were battling multiple blazes for a second day amid suspicions of arson, the country’s AFAD disaster agency and the agriculture minister said. Dozens of villages as well as some hotels were evacuated, and television footage showed burnt buildings and people fleeing across fields as firefighters on the ground and in helicopters tried to contain a blaze in Manavgat, 75 km (45 miles) east of the Mediterranean resort of Antalya. Officials have said that more than 60…

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NEPRA Reduces Power Tariff

The National Electric Power Regulatory Authority (NEPRA) has announced a slight reduction of Rs. 0.21 per unit in the price of electricity. The notification issued in this regard on Wednesday detailed that the reduction has been approved on account of the monthly fuel cost adjustment (FCA) for June 2021 and will be adjusted in the billing month of August 2021. It said that the Central Power Purchasing Agency (CPPA) had requested for the price of electricity to be increased by 80 paisa per unit in the context of June’s fuel…

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Gunvor and PetroChina place lowest offers for Pakistan LNG Tender

Gunvor and PetroChina placed the lowest offers for a tender by Pakistan LNG to buy four liquefied natural gas (LNG) cargoes for delivery in September, two industry sources said on Wednesday. Offers suggest that spot prices for LNG are expected to climb to above $15 per million British thermal units (mmBtu) this week, a new multi-month high. Gunvor placed the lowest offer of $15.397 per million British thermal units (mmbtu) for two cargoes to be delivered over Sept. 6 to 7 and Sept. 17 to 18 and $15.497 per mmBtu…

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