Year: 2022

Romania And Azerbaijan Aim To Build New LNG Project In Black Sea

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On October 19, Romania’s Romgaz and Azerbaijan’s Socar inked a memorandum of understanding expressing an intention to “explore the opportunity of jointly developing a liquefied natural gas project [LNG] in the Black Sea” (Romgaz.ro, October 19). Both parties committed to preparing a comprehensive feasibility study; however, this concept is not new, as the Black Sea LNG Project (as coined by Romgaz) has been discussed for over a decade already. According to the official Romgaz press release, the Black Sea LNG Project will consist of “an LNG liquefaction plant, a regasification plant,…

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Balochistan to get $32b in 47 years from Reqo Dik

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The lawyer representing the Balochistan government on Wednesday told the Supreme Court that the province would receive $32 billion in 47 years from the Reqo Dik project. Salahuuddin Ahmed further told a five-judge larger bench, headed by Chief Justice of Pakistan (CJP) Umar Ata Bandial — hearing a presidential reference on the project — that 25% of the proceeds gained from the gold mine project belonged to the provincial government. Of this 25% share, 15% would be held by a holding and offshore company of Balochistan, he added. Salahuuddin further…

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Consumers Brace for Gas Outages

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oil

Domestic consumers are bracing for long hours of gas outages as they are likely to receive supplies for only eight hours a day to meet cooking needs when the winter season hits its peak next month. Sources told The Express Tribune that the main problem would be encountered on the Sui Northern Gas Pipelines Limited’s (SNGPL) network, particularly in Punjab, due to the scarcity of gas. Punjab’s own gas production stands low when compared with other provinces which include Khyber-Pakhtunkhwa (K-P), Sindh and Balochistan. Under Article 158 of Pakistan’s constitution,…

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Sazgar to Launch Pakistan’s First Hybrid Electric Car

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Leading rickshaw manufacturer, Sazgar Engineering Works Limited (SEWL) announced on Wednesday that it will be launching Pakistan’s first locally assembled hybrid electric vehicle (HEV) under the brand name ‘Haval’ on November 17, 2022. In a notice to the Pakistan Stock Exchange (PSX), the company said, “We are pleased to inform you that the company has successfully assembled/ manufactured locally the first Hybrid Electric Vehicle (HEV) of Pakistan and is being launched under brand ‘Haval’ as of November 17.” The global SUV brand, ‘Haval’, is one of four brands belonging to…

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Controversial Kishenganga and Ratle hydropower projects: WB to hand over projects’ papers to arbiters, neutral experts on 21st

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 The World Bank is to formally hand over to the Court of Arbitration (CoA) and Neutral Expert (NE) on November 21, 2022, the documents related to the dispute between Pakistan and India on the designs of controversial projects — 330 MW Kishenganga and 850MW Ratle Hydropower projects. The expert teams of both the parties to the dispute, Pakistan and India, would attend the ‘Handover briefing by WB to the Court of Arbitration and Neutral Expert (NE)’ — the two forums available under the Indus Waters Treaty 1960 to resolve the…

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