Month: July 2022

Value Chain Of RLNG In Country

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Value chain of RLNG in country , By 2030, Ogra forecast suggests that the country’s gas shortfall will be almost 4,000 mmcfd. This gas deficiency resulted in decline in electricity generation from 12.15% during July-April 2021 to 8.5% in July-April 2022. Owing to the depleting gas reserves, Pakistan entered into the LNG market and availed a cheaper cost of electricity generation by replacing expensive furnace oil. Since 2015, Pakistan has become the seventh biggest importer of LNG in the world. This is underscored by several long-term contracts. Two long-term government-to-government…

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Saudi move to export electricity and hydrogen to Europe via Greece

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Saudi Arabia and Greece have agreed to form a technical team to carry out studies about the prospect of Saudi Arabia exporting electricity and hydrogen to Europe via Greece. This proposal was contained in the joint statement issued by the two countries at the end of the two-day official visit of Crown Prince Mohammed Bin Salman to Greece. The statement affirmed the distinguished and strong relations between the two countries and their common desire to upgrade them to a strategic level. The Crown Prince and Prime Minister Kyriakos Mitsotakis of Greece praised…

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IMF says it is ready to support Bangladesh after loan request

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The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri Lanka. Bangladesh’s $416 billion economy has been one of the fastest-growing in the world for years, but rising energy and food prices because of the Russia-Ukraine war have inflated its import bill and the current account deficit. The IMF said Bangladesh was interested in its new Resilience and Sustainability Facility aimed at helping countries face climate-change challenges…

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Bangladesh seeks IMF support to ride out financial crisis

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Bangladesh has asked the International Monetary Fund for support in riding out a financial shock triggered by volatile energy prices after the Russian invasion of Ukraine, officials said Tuesday. The South Asian nation has experienced lengthy blackouts in recent weeks, sometimes for up to 13 hours a day, as utilities struggle to source enough diesel and gas to meet demand. Tens of thousands of mosques around the country have been asked to curtail their use of air conditioners to ease pressure on the electricity grid, with power shortfalls compounded by…

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Key power projects to be taken up in JEWG meeting

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Power projects including 1124 MW Kohala and 700.7 MW Azad Pattan HPPs as well as 1,320 MW Thar Coal power plant project will be taken up in the coming meeting of the Pakistan-China Joint Energy Working Group (JEWG) which would be held in the first week of the next month (August). The Power Division highlighted the agenda for the forthcoming 9th JEWG meeting and discussed power projects in pre Joint Coordination Committee meeting held on Tuesday, here in Islamabad. Federal Minister for Planning Development and Special Initiatives Ahsan Iqbal presided…

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