Year: 2021

Chinese firm awarded $355m Tarbela project

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ISLAMABAD: The Water and Power Development Authority (Wapda) on Thursday awarded a $354.6 million worth of contract to Power Construction Corporation of China Ltd (PCCCL) for civil works of the 1,530MW Tarbela 5th Extension Hydropower Project after completion of an international competitive bidding process. The contract was signed by Project Director Tarbela 5th Extension Project Muhammad Azam Joya and PCCCL Executive Representative in Pakistan Ling Jianke. The signing ceremony was also attended by Wapda Chairman Muzammil Hussain, World Bank Country Director Najy Benhassine, World Bank Task Team Leader Dr Rickard…

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Solar sculpture to produce 300 MWh of electricity annually

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Mumbai architecture firm NUDES has designed Solar Mountain, which could become a permanent installation on Burning Man’s 3,800-acre ranch in Nevada and produce 300 MWh of electricity annually. The design features an array of solar panels fanning out from a central spine. Construction is planned with modular design elements of recycled wood and other environmentally friendly materials. It would include four units, each with 182 solar panels of 300W capacity. Burning Man is an annual festival focused on community, art, self-expression, and self-reliance. The NUDES design is one of 10…

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Malaysia’s Petronas signs first Canadian-indexed LNG deal

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Malaysia’s state-owned Petroliam Nasional Bhd said on Friday it had signed its first liquefied natural gas (LNG) deal using a Canadian pricing indexation as basis. Petronas LNG sold a spot LNG cargo to a buyer in the Far East for August delivery using the Canada Alberta Energy Company (AECO) index, the company said. AECO is a Canadian natural gas price benchmark, similar to the Henry Hub index in the United States, but is not typically used as a pricing basis for LNG spot contracts. In Asia, the S&P Global Platts’…

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FueLNG completes Singapore’s first ship-to-ship bunkering of LNG-fueled oil tanker

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Singapore — Singapore’s FueLNG — a joint venture between Keppel Offshore & Marine and Shell Eastern Petroleum — along with the Maritime and Port Authority of Singapore, has completed Singapore’s first ship-to-ship bunkering of an LNG-fueled oil tanker, marking another milestone in Singapore’s efforts to become an LNG bunkering hub. FueLNG completed the gas-up and cool down operation for the LNG-powered oil tanker Pacific Emerald, including the transfer of 3,000 cu m of LNG from FueLNG Bellina, Singapore’s first LNG bunkering vessel, to the tanker, FueLNG, Keppel Offshore & Marine,…

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Fitch seeks viewpoint on China’s future role in bilateral financing

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Fitch Ratings- Hong Kong, an international sovereign rating agency, which is conducting Pakistan’s sovereign rating review exercise, has sought Pakistan’s viewpoints on China’s future role in bilateral financing. The rating agency has sought answers to over two dozen questions from different line Ministries to finalise its rating review exercise. The questions raised with Ministries are as follows: (i) Ministry of Finance – what is the estimate for economic growth in FY 2021 and forecast for FY 22?. How will the most recent wave of the Coronavirus impact growth outlook? What…

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