Category: Highlights

Global LNG: Asian spot LNG prices at two-month high tracking EU gas rally

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LNG

LONDON: Asian spot liquefied natural gas (LNG) prices hit a two-month high this week, tracking a rally in European gas prices, despite subdued Asian demand due to healthy inventories. The average LNG price for March delivery into north-east Asia was at $14.90 per million British thermal units (mmBtu), the highest since early December and up from $13.80/mmBtu last week, industry sources estimated. “Bullish prices are expected to continue in the week ahead supported by colder weather and supply disruptions at the 16.3 mtpa (million tonnes per annum) North West Shelf…

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Chinese turbine maker strikes Pakistan wind power pact

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wind power

Mingyang will supply one hybrid wind, solar and energy storage facility and another wind farm under terms of deal Mingyang has struck a deal to supply two wind power projects in Pakistan during a visit of the country’s president to China. Pakistan’s President Asif Ali Zardari witnessed the signing of a strategic cooperation agreement between Mingyang and the energy department of the southern province of Sindh, the OEM announced today.

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$300 million deals in energy, coal, and cement inked between China, Pakistan

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BEIJING: President Asif Ali Zardari on Thursday witnessed the signing of Memorandums of Understanding (MoUs) worth more than $300 million in the energy, coal, and cement sectors in Beijing. The agreements, signed between Pakistani stakeholders and Chinese investors, aim to enhance the country’s industrial growth and energy sustainability. The Energy Department of the Government of Sindh and Ming Yang Renewable Energy (International) Company Ltd. signed an MoU to advance renewable energy projects in the province. Pakistan’s Ambassador to China, Khalil Hashmi, signed on behalf of the Ministry of Energy, while…

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Pakistan, China sign MoUs to enhance cooperation in clean energy, construction

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china pakistan

Pakistan and China signed multiple memorandums of understanding (MoUs) Thursday to enhance cooperation in different fields, including renewable energy, fertiliser and construction. An MoU was signed between Pakistan’s Thatta Cement Company and China’s Qing Gong Construction Group, under which a production line will be set up in Pakistan to increase cement production by 5,000 tonnes per day. Another MoU was signed between Sindh’s Energy Department and China’s Ming Yang Renewable Energy Company. Under the agreement, cooperation will be extended on various renewable energy projects in Pakistan. Murad-led team meets top…

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Oil firms slightly as Trump policies continue to drag on prices

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Oil prices

LONDON: Oil prices edged up on Thursday after Saudi Arabia’s state oil company raised its March crude prices sharply, but the gains barely dented the previous day’s slide in benchmark Brent crude. Brent crude futures rose 28 cents, or 0.4%, to $74.89 a barrel by 1251 GMT. U.S. West Texas Intermediate crude was up 29 cents, also 0.4%, at $71.32. Oil prices had plunged by more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signaled weaker demand while investors also weighed up the implications…

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