Bangladesh, Pakistan and India have been significantly affected by the changes to the LNG market in 2022. “Europe is trying to grab every molecule of gas wherever it is available,” he said. “They are purchasing everything from current to future gas. And their purchasing power is much higher than that of developing countries. So obviously, countries like Bangladesh, India, and Pakistan have been hit very hard.”🚨🚦 One of the big problems countries such as Pakistan have faced in terms of LNG supply is the nature of the contracts they have…
Read MoreYear: 2022
GasPort donates Rs. 10 million for Flood Relief
To alleviate the tragic impact of recent floods across Pakistan, Associated Group though its companies including Pakistan GasPort Limited and PGPCL (PGPL and PGPCL own Pakistan’s largest LNG regasification and storage terminal) has donated Rs. 10,000,000 (Ten Million Rupees) to the Pakistan ‘Army Relief Fund for Flood Affectees.’ The monies will be spent on relief work and supply of provisions for the community members most adversely hit by the floods. Furthermore, BW LNG through a JV Partnership with MITSUI & CO., LTD., the provider of Floating Storage Regasification Unit at…
Read MoreOil price: The big signal
Not many saw that coming. Not even the traditionally most bullish takers on oil market. Observers have termed the latest moved by Saudi led Opec Plus cartel nothing short of a slap on Biden administration. Saudi Arabia and Russia have got uncomfortably close for the West’s likings, especially as the US made attempts to persuade the Kingdom to stay clear of any major production cuts. As fears of global recession gained traction, and central banks around the world opted for more tightening, Opec Plus feared it was being cornered. The…
Read MoreWhy do solar power plants work inefficiently?
When choosing a solar power plant, individuals and businesses pay the most attention to its power – after all, this will determine how much electricity will be produced. Other equipment, systems and sensors that allow monitoring and analysis of the operation of the power plant are often underestimated. But they shouldn’t be: the solar power plant will be used for several decades, so various failures and poor-quality monitoring can have a significant impact on the efficiency of electricity The efficiency of a solar power plant is affected by many factors,…
Read MoreThe Implications Of U.S. SPR Withdrawals
The Strategic Petroleum Reserve’s (SPR) oil is sold competitively when the President of the United States of America finds, pursuant to the conditions set forth in the Energy Policy and Conservation Act (EPCA), that a sale is required. In the past, oil resources were withdrawn from the SPR to meet domestic oil requirements – such as Emergency Drawdowns, Non-Emergency Sales, SPR Modernization Sales, and Mandated Sales. In March 2022, such orders were issued by the President of the United States, Joe Biden. President Biden has decided to open the SPR to mitigate the…
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