Month: July 2021

Special Assistant to the Prime Minister (SAPM) on Petroleum and Power Tabish Gauhar Friday said the Pakistan Tehreek-i-Insaf (PTI) government had devised a multi-pronged strategy to reform the gas sector and meet the country’s energy needs in an efficient manner. “Our government is determined to reform the gas sector and for this purpose, we have devised a strategic workstream that is further divided into three parts; short term, medium-term and long term,” he said in a series of tweets. Under the short term plan of 6-12 months, the SAPM said…

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Just as natural gas has competed with coal as the prime fuel for electricity in the last decades, renewables are putting pressure on the blue, clean-burning source of energy. The competition is fierce and will likely get worse. Yet, it is still too early to discount gas. This was the message at the 36th International Gas Congress in Croatia, where I spoke on Joe Biden’s plan to stop drilling on federal lands. The International Gas Union (IGU), with over 160 members from the U.S. to Qatar, is a non-profit that…

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The Petroleum Division has taken another U-turn in the new draft of the LPG Policy 2021, as it proposed local LPG price of around $80 over the international price. This means that LPG importers will be able to charge $80 above CP price. Saudi Aramco sets its propane term contract price, which is then followed by Pakistan. Now, the Petroleum Division has called a meeting of stakeholders, mainly dominated by LPG importers, on Sunday (today) to discuss the matter. In its earlier notification of the meeting, the Petroleum Division had…

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Another brewing LNG crisis is most likely to hit the country again in September and October, as the government has refused to purchase 8 spot LNG cargoes for these months since the gas was offered at higher cost in range of $13.787-$16.0 per MMBTU (per million British thermal units). The Pakistan LNG Limited (PLL) — 100 percent state owned company, had floated the tender for 8 LNG spot cargoes (4 for September and 4 for October) but because of the higher than expected rates, the government cancelled them by rejecting…

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