Category: Highlights

Europe became the largest customer of U.S. producers of liquefied natural gas recently, taking in more than 50 percent of total U.S. shipments over the last three months. But U.S. LNG, as well as LNG from other sources, would only provide short-term relief. For starters, there are the long-term contracts that all LNG producers in the U.S., Australia, and Qatar already have with other buyers. Then there is the question of insufficient LNG import capacity in Europe. Germany has announced a decision to urgently build two LNG terminals—the country has…

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The German Solar Academy Network (GSAN) and Harmony Group Pakistan signed a Memorandum of Understanding (MoU) to establish their cooperation for the promotion and delivery of high-quality training, research and education in the field of Renewable Energy (with focus on Solar Energy) in the country, says a press release. The MoU is an outcome of the Pakistan-German Renewable Energy Forum (PGREF) B2B facilitation among German and Pakistani entities. The MoU was signed as a delegate of the German Solar Academy Network (GSAN), Germany, is visiting Pakistan with an objective, to…

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On Tuesday, President Joe Biden announced a ban on Russian oil imports in the most recent sanction to stop the conflict in Ukraine—a decision that has piqued curiosities to invest in renewable energy. The move marks the latest action that the US has taken to cripple the Russian economy in response to the war Russian president Vladimir Putin has waged. It follows sanctions on Russia’s largest banks and the central bank and finance ministry, as well as the growing list of private and public companies that have been pulling products…

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The European energy crisis is escalating rapidly and with natural gas supplies in short supply, Europe is relying heavily on liquified natural gas (LNG) to meet its needs. Russia usually supplies around 40 per cent of Europe’s natural gas, used to heat homes and generate electricity. After the country’s invasion of Ukraine, the EU is now looking to cut its reliance on Russian fossil fuels by two thirds by 2023. With the EU slashing these imports, LNG from the US and other countries around the world is being brought in to…

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The Economic Coordination Committee (ECC) of the federal cabinet has approved to implement a mechanism of fortnightly reimbursement of price differential claims (PDCs) of the oil marketing companies (OMCs) and refineries in order to avert shortage of petroleum products.Federal Minister for Finance and Revenue Shaukat Tarin presided over the ECC meeting on Monday.The Ministry of Energy (Petroleum Division) submitted the summary on reimbursement of PDCs of the OMCs and refineries, in line with the PM relief package of reduction in the consumer prices of motor spirit and diesel by Rs10…

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