China’s Largest LNG Importer to Buy Supplies from US Developer Venture Global

Under one 20-year deal, CNOOC Gas & Power Group will take 2 million mt/year of LNG on a free-on-board basis from Venture Global’s proposed Plaquemines LNG facility that is planned to be built south of New Orleans. Under a second deal, which will last for a shorter duration that the companies did not disclose, state-owned CNOOC, or China National Offshore…

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Discontinuation of Gas Supply to Industrial Sector Decried

The Multan Chamber of Commerce and Industry has expressed serious concerns over discontinuation of gas supply to the industrial sector particularly to textile sector and demanded the government exempt the textile industry from gas loadshedding. The MCCI has urged the Prime Minister Imran Khan to intervene immediately to ensure supply of electricity and gas to textile mills and warned that…

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IMF Conditionalities

The International Monetary Fund (IMF) as well as other multilaterals has come under considerable criticism in recent months with respect to their harsh upfront monetary and fiscal policy conditions that have eroded Pakistan’s growth rate, raised unemployment levels, fuelled inflation through administered pricing of utilities and has contributed to a sustained erosion of the rupee against the dollar. Two observations…

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Pakistan, Russia to Develop Financial Infrastructure

Pakistan and Russia have reportedly agreed to develop bilateral financial infrastructure through their central banks aimed at facilitating trade, investment activities, etc., well informed sources told Business Recorder. This consensus was evolved at the 7th Session of Pak-Russia Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation held recently in Yekaterinburg city of the Russian Federation. Pakistani side was led by…

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‘Wrong Policies of PML-N Ruined’ Energy Sector

Energy Minister Hammad Azhar said on Monday the “expensive agreements and the installation of unnecessary power houses” during the Pakistan Muslim League-Nawaz (PML-N) government from 2013 to 2018 ruined the energy sector. The minister said in a video statement the rent of the expensive powerhouses, installed by the past government, increased by Rs100-300 billion annually, and ultimately the consumers had…

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The Gas Addiction

Federal Information Minister Fawad Chaudhry in a recent presser hinted at deregulation of gas sector. This regime is showing intention to reduce its footprint in gas sector since the start. Nothing of the sort has been implemented to-date. Although there are developments on private sector lead terminals, the government is yet to cover the last mile. It cannot afford to…

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