Pakistan purchases four LNG cargoes at highest-ever prices since 2015

The government has procured four liquefied natural gas (LNG) cargoes at the highest-ever rates at $15.19-$15.49 per mmBtu for the month of September. The state-owned Pakistan LNG Limited (PLL) first cancelled the tender of eight cargoes for September and October, arguing that the rates were higher at $13.78 per mmBtu, but now it has procured four cargoes at the highest-ever…

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Pakistan to auction oil, gas blocks by year-end

Pakistan has announced that it will auction highly lucrative oil and gas exploration blocks, mainly the ones earlier awarded to exploration firms but their deals were later cancelled or remained under litigation, by the end of the year in an effort to increase hydrocarbon production. This would also help reduce the country’s reliance on expensive imported fuels. The government unveiled…

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Cement industry seen as biggest source of CO2 emissions

Cement industry is the single largest source of carbon dioxide (CO2) emissions in Pakistan, according to a research study released on Friday. Prepared by the Centre for Research on Energy and Clean Air (CREA), an independent European environmental think tank, the study shows that CO2 emissions from the consumption of fossil fuels such as oil, gas and coal in Pakistan…

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Hammad thanks Iran for normalising power supply

Federal Minister for Energy Hammad Azhar thanked the Iranian ambassador to Pakistan on Friday for “normalising” electricity supply to the bordering districts of Balochistan. “I am grateful to the Ambassador of Iran in Pakistan for promptly accepting my request and normalising the flow of electricity to the Makran division,” he said in a tweet. Gwadar, Turbat and Makran have been…

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Govt justifies buying expensive LNG to avert power tariff hike

The government on Friday conceded purchasing expensive liquefied natural gas (LNG) from the spot market as ‘a lesser evil’, saying no body without a crystal ball could perfectly time or beat international commodity market. “Pakistan LNG Ltd (PLL) board was forced to accept the four LNG ‘spot’ tenders at $15 per mmBtu for September 2021; otherwise, the replacement fuel (ie…

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Petrol price raised as stocks plummet

As petrol stocks plummeted to three-five days’ consumption cover throughout the country, except Sindh, the government increased its price by Rs1.71 per litre and decided to change berthing order of various oil vessels. A senior government official told Dawn that the country’s overall petrol stocks had fallen below 260,000 tonnes that were equivalent to less than 10 days of consumption. After excluding…

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Hydrogen produced using renewables will be able to travel through existing gas pipelines, Snam CEO says

The CEO of Italian infrastructure giant Snam on Friday outlined a vision for the future of hydrogen, saying the “beauty” of it was that it could be easily stored and transported. Speaking to CNBC’s “Squawk Box Europe,” Marco Alverà spoke about how current systems would be used to facilitate the delivery of hydrogen produced using renewable sources as well as…

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