Month: September 2022

Pakistan GasPort Consortium (PGPC), which operates a liquefied natural gas (LNG) terminal, has turned down the strict conditions laid down for utilising excess capacity of its terminal. PGPC’s terminal has handling capacity of 750 million cubic feet per day (mmcfd) of LNG. State-owned Pakistan LNG Limited has been allocated 600 mmcfd of capacity at the terminal, which has operated at full capacity for only a few days. The terminal operator is seeking to utilise its 150mmcfd idle capacity at its own risk. PGPC and PLL also signed an agreement on…

Read More

The business community has expressed dissatisfaction over management of the country’s economic affairs by the government, saying it has now become impossible for industrialists to continue their business operations. The prime concern these days for the industrialists is the energy-fuelled inflation, which is forcing many to halt operations as their business has become unviable. “No one has done more harm to Pakistan’s economy than the National Electric Power Regulatory Authority (Nepra),” remarked Lahore Chamber of Commerce and Industry (LCCI) President Mian Nauman Kabir while speaking at a press conference on…

Read More

Oil and Gas Development Company Ltd announced on the Pakistan Stock Exchange on Monday that the TAL joint venture — in which the energy explorer has a 30 per cent working interest — has discovered gas condensate from Lockhart formation in Tolanj West-2 development well in the Kohat district of Khyber Pakhtunkhwa. Other partners in the joint venture are MOL Pakistan Oil and Gas Company (operator), Pakistan Petroleum Ltd, Pakistan Oilfields Ltd and Government Holdings Ltd. The Lockhart formation (exploratory target) was tested successfully at the rate of 8.3 million…

Read More

Pakistan State Oil Company (PSO), which is the largest gas importer and fuel retailer, is going to build an import terminal for liquefied natural gas (LNG) at $500 million, Bloomberg News reported on Monday. The import terminal will be located near Karachi and will take four years to complete, the international news agency quoted PSO CEO Syed Muhammad Taha as saying. The company has an understanding with a few large customers and has begun preliminary preparations for the project that will include Pakistan’s first LNG storage facility, he said. Pakistan…

Read More