Month: June 2022

AMMAN, Jordan (AP) — A crane loading chlorine tanks onto a ship in Jordan’s port of Aqaba on Monday dropped one of them, causing an explosion of toxic yellow smoke that killed at least 13 people and sickened some 250, authorities said. Video carried on state TV showed the moment the tank exploded, sending dockworkers scrambling to escape the toxic cloud. Some 200 people were hospitalized. The Public Security Directorate, which initially described it as a gas leak, said authorities sealed off the area after evacuating the injured and sent…

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Cash-strapped Sri Lanka on Sunday announced sending ministers to Russia and Qatar to try and secure cheap oil a day after the government said it had all but run out of fuel. The government meanwhile extended a two-week closure of non-essential state institutions until further notice in order to save fuel, maintaining only a skeleton staff to provide minimum services. Energy Minister Kanchana Wijesekera said two ministers will travel to Russia on Monday to discuss getting more oil following last month’s purchase of 90,000 tonnes of Siberian crude. That shipment…

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In the wake of no required action by PTI government to resolve the issue of inclusion of escalated cost in true-up tariff, Korean investors have moved London Court of International Arbitration (LCIA) against the government of Pakistan seeking $94 million (Rs19.6 billion) as compensation. The Korean investors pleaded National Transmission & Despatch Company (NTDC) failed to evacuate electricity from 147MW Patrind Hydropower Project for at least six months from the COD of the project and also the cost incurred on construction of a point from where the electricity was to…

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The introduction of a wholesale electricity market in Pakistan will attract more Chinese investment in the renewable energy sector of the country, an investment expert said. The National Electric Power Regulatory Authority (Nepra) on June 6 awarded market operator licence to Central Power Purchasing Agency-Guarantee (CPPA-G) under the Competitive Trading Bilateral Contract Market (CTBCM) initiative. The new regime allows large consumers of one megawatt or above to directly purchase electricity from the generation or transmission company of their choice at mutually agreed tariffs and terms and conditions. The new regulations…

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Pakistan currently imports liquefied natural gas (LNG) through a government-to-government agreement (15-year contract with Qatar on a take-or-pay basis) and four arrangements with private vendors in Italy and Qatar (also term contracts on take-or-pay basis). Over the last three years, these term agreements have accounted for more than 87% of all LNG shipped into Pakistan. The remainder 13% was made up of spot purchases to meet demand that exceeded the term commitment. Talk of the town is that Pakistan is going to face the shortage of LNG because it is…

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