Month: February 2022

Threat of Russian Attack on Ukraine Looms Over Energy Markets – LNG Recap

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The growing threat of a Russian invasion of Ukraine had the energy market on edge Monday, when oil and natural gas prices again moved higher. The standoff has also upended metals markets, weighed on equities and is creating additional inflationary pressures. The U.S. warned Friday that an attack could be imminent, sending commodity prices up. German Chancellor Olaf Scholz was scheduled to speak with Russian President Vladimir Putin in Moscow on Tuesday in the latest diplomatic push to ease tensions. Spot liquefied natural gas (LNG)  prices in Asia followed European…

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Carrying the energy of the future

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Heinz-Jürgen Hiller, Business Development LNG at VTG Rail Europe, looks at LNG transportation by rail and the important role it could play in the future of the LNG industry. In April 2021, the European Parliament and the Council of the EU agreed on a new European climate law and substantially raised the EU’s greenhouse gas (GHG) reduction target for 2030. At the same time, GHG neutrality by 2050 – which is at the heart of the Green Deal – was for the first time anchored in law at an EU…

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Gas loss rates restored to pre-Aug 2020 levels

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The government has reinstated the rates of Unaccounted for Gas (UFG) losses on the distribution of RLNG (Regasified Liquid Natural Gas) to pre-August 2020 levels, which analysts said would help reduce buildup of circular debt in the days to come. According to Oil & Gas Regulatory Authority’s (OGRA) latest notified prices of RLNG for January and February 2022, the rates of UFG losses of gas companies i.e., Sui Northern Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) now stand at over 12 percent and 18 percent respectively. UFG rates…

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World oil price rise takes its toll on PSX

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A bloodbath session was witnessed on Pakistan Stock Exchange Monday as crude oil prices surged to a seven-year high in the international markets amid intensifying tensions between Ukraine and Russia Pakistan. The market opened on negative note and remained in red zone for most part of the day where selling pressure was seen in almost all sectors. The benchmark KSE-100 Index plunged by 435.28 points or 0.94 percent and closed at 45,644.09 points. During the session, the KSE-100 index hit 46,128.11 points intra-day high and 45,508.14 points intra-day low levels.…

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Govt spends Rs 2b to implement electricity, gas schemes

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The Federal government is spending more than two billion of rupees to execute electricity and Sui gas supply schemes in the district Hafizabad and no any village will be left without electricity and Sui gas facilities before completion of five year constitutional tenure of present government of PTI led by Prime Minister Imran Khan. These views were expressed by the Member National Assembly Chaudhry Shoukat Ali Bhatti while addressing inaugural ceremony of electricity scheme at village Bagh Kohnah near Pindi Bhattian. Local leader of PTI Chaudhry Sakandar Nawaz Bhatti and…

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