Day: March 25, 2022

China says willing to extend CPEC to Afghanistan

Admin

Beijing welcomes Afghanistan’s active participation in the Belt and Road Initiative, a global infrastructure plan proposed by China, and is willing to push for extending the China-Pakistan Economic Corri­dor (CPEC) to Afghanistan, Chinese Foreign Minister Wang Yi said on Thursday as he made a surprise visit to Kabul. Wang met acting Afghan Foreign Minister Amir Khan Muttaqi to discuss political and economic ties, including starting work in the mining sector and Afghanistan’s possible role in China’s Belt and Road infrastructure initiative, according to a statement from an Afghan foreign ministry…

Read More

A brewing commodity crisis and developing countries

Admin

The United Nations has warned that Russia’s invasion of Ukraine could trigger a global famine as Moscow’s Black Sea blockade delays crucial grain exports, and stoked fears of a deepening hunger crisis in countries such as Yemen and Ethiopia. The UN’s special rapporteur on the right to food, Michael Fakhri, warned on Friday of a global famine as the result of Russia’s invasion. “For the last three years, global rates of hunger and famine have been on the rise. With the Russian invasion, we are now facing the risk of…

Read More

Mexico Facing Supply Shortfalls if U.S. Ramps Up LNG Exports, Fitch Says

Admin

Mexico’s energy system relies heavily on U.S. natural gas and this could lead to price increases and supply shortfalls if the United States focuses more on the liquefied natural gas (LNG) export market, according to analysts at Fitch Ratings Inc. If the U.S. increases gas exports to Europe as a result of Russia’s invasion of Ukraine, “Mexico could face high gas prices and shortages,” said Velia Valdes, an associate director in Latin America Corporates. She spoke during a webinar Fitch organized on the Mexican energy sector. So far, the Russia-Ukraine…

Read More

Peace pipeline

Admin

A few days back, the Iranian ambassador in New Delhi delivered a very important statement in which he said: “Iran is ready to meet India’s energy needs by launching trade in Indian and Iranian local currencies for export of oil and gas.” According to H H Ali Chegeni, Tehran is also willing to work closely with India to revive and find alternative routes for the stalled Iran-Pakistan-India pipeline project for transporting natural gas to India. The statement reminds me of the Iran-Pakistan pipeline which we have been hearing about for…

Read More

Pakistan in talks with Russia for LNG imports

Admin

As Russia develops the Yamal LNG project facility — Islamabad and Moscow are in talks to a multi-billion dollar government-to-government import deal. The Yamal LNG Project includes the development of the giant South Tambey (Tambeyskoye) gas field that is located near Sabetta in the Yamal peninsula in Russia. The Russian government has declared the project to be of national interest at a cost of around $27 billion. This is a new addition to the energy cooperation between Pakistan and Russia as two countries are already working on different projects including…

Read More