Day: January 20, 2022

Qatar to regain its top slot in LNG exports by 2026

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Qatar’s LNG exports competed with Australia’s for the first place in 2020, although it ranked second, QEO said. According to the annual World LNG Report 2021 issued by the International Gas Union (IGU), Qatar ranked second in LNG exports in 2020, with 105bn cubic metres LNG or 77.1mn metric tonnes LNG equivalent, or 21.65% of the total global exports of about 356.1mn metric tonnes LNG. “It is expected that Qatar will gain a position as the pre-eminent and largest exporter by 2026, when the production of the North Gas Field…

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CPEC enabled Pakistan to meet energy demand, cut production costs: official

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The China-Pakistan Economic Corridor (CPEC) has not only turned Pakistan into a power surplus country but also cut the production cost of electricity, Khalid Mansoor, special assistant to the prime minister on CPEC Affairs, said. Pakistan needs a lot of power for domestic and industrial consumers, and the nation’s main production technology depends on expensive imported furnace oil, Mansoor told Xinhua in an interview. In the light of this situation, China invested in power plants in Pakistan and added 5,320 megawatts of electricity to the national grid at a lower cost. “Now…

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Oil production remains flat in second quarter of FY22

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The Oil production in Pakistan during the second quarter of fiscal year 2022 (FY22) witnessed a decline of 1 per cent amidst lower production output, a research report by Topline Securities showed. The reduction in the production came largely due to the decline in production from Nashpa, Adhi, and Makori East oil fields coupled with no addition of any sizable production oil field. Likewise, the gas production during the second quarter of FY22 witnessed a decline of 2 per cent on a quarter-on-quarter basis, driven by the lower production from…

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Pakistan ponders fuel oil exports amid problem of plenty at home

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The decision by the Pakistan to import fuel oil in a hurry towards the end of last year due to gas shortages and high LNG prices created a problem of plenty in the domestic market. As a result, Pakistani refiners are left with no choice but to reduce throughput. “The fuel oil glut is a combination of fuel oil imports even when domestic refineries can produce fuel oil for power generation, as well as due to a decline in seasonal power demand due to the winter, leading to some of…

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With LNG Momentum and More Cold Coming, February Natural Gas Futures Forge Ahead

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NGI’s Spot Gas National Avg. dropped $1.280 to $5.510 as prices pulled back sharply in the volatile Northeast amid a spate of moderate weather to start the week. NatGasWeather said forecasts showed mild conditions would push across the country through Wednesday. However, heating demand “is still on track to spike late this week as an Arctic blast sweeps across the Midwest and East with areas of snow” and subzero temperatures. This is to be “aided by lows of 20s and 30s into portions of the southern United States. A reinforcing Arctic shot…

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