Month: August 2021

Surge in Asian spot LNG price raises concerns over tightening market conditions

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Asia’s spot LNG prices soared to new summer highs this week supported by strong regional demand and surging gas prices in European gas hubs, with tight fundamentals meaning there is little prospect of prices easing from current levels. The past week saw spot LNG delivered to Northeast Asia crossing $16/MMBtu for the first time during the Northern Hemisphere summer in eight years. The S&P Global Platts JKM was assessed at $16.155/MMBtu on Aug. 5 for September delivery cargoes, compared to around $3.2/MMBtu at this time last year, and around $4.2/MMBtu…

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NFEH launches monsoon plantation campaign in KEPZ

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The National Forum for Environment and Health (NFEH) has joined hands with the Midas Safety and Orix Modarba to launch a monsoon tree plantation campaign in the Export Processing Zone, Landhi.The same industrial estate of Karachi was selected some three months back to plant 300 plant saplings that have grown much due to proper care and protection. The back-to-back plantation drives have played an important role in increasing the green cover in the industrial zone.The saplings of fruit-bearing trees were specially chosen for the latest plantation drive. The central idea…

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Clean & Green Pakistan campaign turned into a movement: Farrukh

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Minister of State for Information and Broadcasting Farrukh Habib Monday said the Clean and Green campaign of Prime Minister Imran Khan turned into a movement as the entire nation has started planting trees across the country. In a tweet, he said the people of Pakistan were fulfilling their national responsibility by enthusiastically participating in the drive to reduce environmental impacts in the country. The Parks and Horticulture Authority (PHA) Lahore has made a history by launching the world’s biggest Miyawaki forest near Saggian, he added.

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Minister for hiring local people in Tarbela project

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Federal Minister for Economic Affairs Omar Ayub Khan has emphasised that the 5th Extension of Tarbela hydropower project will help meet rapidly increasing requirement of water and electricity in the country. “It will also improve energy security by increasing the share of clean and affordable energy in the country’s energy mix,” he added, according to a statement issued on Monday. Chairing a high-level meeting with a World Bank team to review the progress on Tarbela’s 5th Extension, the minister directed the relevant authorities to remove all bottlenecks, address the impending…

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Govt seeks NEPR’s nod to phase out power subsidy

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The government on Monday asked the National Electric Power Regulatory Authority (Nepra) to immediately approve first part of its three-phased subsidy rationalisation plan envisaging creation of four new tariff slabs and a slight expansion in the definition of lifeline consumers to 100 units per month for gradual reduction of electricity subsidies. Nepra conducted the public hearing on the subsidy rationalisation plan that has been agreed to with the lending agencies – the World Bank and the International Monetary Fund. Presided over by Chairman Tauseef H. Farooqi and attended by all…

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