Year: 2021

Gunvor and PetroChina place lowest offers for Pakistan LNG Tender

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LNG

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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OGDCL Discovers Gas and Condensate in KP

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According to a notification submitted to the Pakistan Stock Exchange (PSX), the said discovery is unique as it is the first of its kind made in the Kawagarh Formation in Pakistan. It will open new avenues for exploration and will boost exploration activities in the country. The Wali well was drilled and tested using the OGDCL’s in-house expertise to a depth of 4,727 m in the Kawagarh Formation. Based on the good oil/gas shows during drilling, interpretation of open-hole logs data i.e., presence of fractures in limestone-based on image logs…

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Huawei Digitizes Green Powered Pakistan With FusionSolar Club Pakistan

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Lahore (UrduPoint / Pakistan Point News – 28th July, 2021) With the aim to lead green powered digitized power in the country the ‘Huawei FusionSolar Club Pakistan’ was held at the Pearl Continental Hotel to aid the energy sector in the struggle against climate change and to develop sustainable development. Mr. Tauseef H. Farooqi, Chairman National Electric Power Regulatory Authority, Mr. Shah Jahan Mirza, CEO AEDB, Mr. Naeem Memon, Director Solar Alternate Energy Development Board, Ahmed Shahzeb Malik, Member Board of Directors Quaid-E-Azam Solar Pvt. Ltd and Sadaqat Ali Khan,…

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U.S. LNG Exports Hit New High in First Half of 2021

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LNG exports averaged 9.6 Bcf/d in the first six months of the year, according to the U.S. Energy Information Administration. That is a stark contrast to last year when demand cratered amid the Covid-19 pandemic, leading some global customers to cancel U.S. cargoes. According to EIA, first half 2021 exports climbed 42%, or 2.8 Bcf/d, compared with last year. That is more than the amount of new capacity that was added last year. EIA noted that the final liquefaction units were commissioned at Corpus Christi LNG and Freeport LNG in…

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Japan’s Decision To Cut LNG Demand Clouds Gas Outlook

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Japan recently announced a new energy target for 2030, a move that sent shockwaves through the global market for liquefied natural gas (LNG). The plan to cut LNG consumption nearly in half could spoil the plans of LNG exporters worldwide, from Qatar to the United States. Japan’s LNG cut The new draft 2030 plan aims to dramatically scale back on the use of fossil fuels in an effort to hit climate change targets. The plan calls for the use of LNG in power generation to fall to 20 percent of…

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