Category: Highlights

Europe’s energy crunch is far from over, but a flotilla of liquefied natural gas (LNG) tankers from the U.S. are set to resupply the fuel-starved continent. European gas prices fell for the sixth day, the longest decline in more than a year. Even though natural gas prices are retreating from record highs, household power bills, especially in Great Britain, are likely to remain high until 2023. This year, Dutch TTF natural gas prices surged more than 400% on low supplies ahead of the Northern Hemisphere winter and Russia reducing flows.…

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The government has disbursed a sum of Rs23,911.77 million for various power division schemes under the annual Public Sector Development Programme (PSDP) for year 2021-22 so far. According to the data, the government has specified Rs69,485.05 million under PSDP-2021-22 for various power projects with Rs40,174 million foreign aid components. An amount of Rs10,520.74 million has been spent on various projects out of the total authorized/disbursed Rs23,911.77 million so far. A sum of Rs9,256.25 million as a foreign component has also been disbursed till October. A sum of Rs22,000 million was…

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Big global technology companies venturing into the arena of renewable energy is indeed good news for domestic electricity consumers in Pakistan who should switch to solar power at the earliest for slashing their power bills. Sindh government’s Energy Secretary, Abu Bakar Ahmed Madani, expressed these remarks while speaking at the Huawei FusionSolar Residential Summit Pakistan here at a hotel. The provincial Energy Secretary said the domestic consumers should immediately install solar power systems to generate electricity on their own for their household needs. He emphasised that solar energy had emerged…

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Shippers of containerized goods were caught off guard this year. Never before had container spot rates risen so far, so fast. But shippers of liquid and dry bulk commodities know such cost swings all too well. When bulk commodity transport demand exceeds supply, shipping spot rates can keep rising until cargo shippers’ profit margins are erased. The spectacular rise and fall of liquefied natural gas shipping rates is the latest example. LNG carriers boast the highest day rates of any cargo vessel type. Shippers can afford to pay eye-wateringly high…

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The conditional restoration will be done on best-efforts basis from December 29, 2021 on the conditions that industry would have to submit affidavit for not initiating litigation. Moreover, conducting energy audit through third-party arrangement by June next year has been made mandatory for captive power producers. Otherwise, gas will be disconnected permanently. An industry representative also confirmed deal done with the government. He said for restoration of gas supply, it has been decided to provide 75MMCFD, which is about 42 percent of last three months average gas consumption. Similarly, senior…

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