Category: Highlights

LNG traders divert six US cargoes to Europe from Asia

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LNG

SINGAPORE: Traders diverted at least six cargoes of liquefied natural gas that were on course for Asia to Europe earlier this month, drawn by higher European prices and amid weak Asian demand, according to analysts and shipping data. The diverted cargoes could help meet additional European demand as countries seek to replace piped Russian gas after the Ukraine transit deal expired on Jan. 1, while weather forecasts point to lower temperatures in northwest Europe. The vessels had loaded in the US and were initially destined for China, South Korea, Thailand…

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As cut in power tariff likely FRIA wants major reduction

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power tariff

LahoreAs the National Electric Power Regulatory Authority (Nepra) is likely to slash power tariff by Rs1.035 per unit as part of monthly fuel price adjustment for December 2024, the Ferozepur Road Industrial Association has said that some major cut should be introduced to provide relief to electricity consumers, who are bearing very high tariffs.FRIA Chairman Shahbaz Aslam said that the Central Power Purchasing Agency-Guarantee has submitted a formal request to Nepra on behalf of power distribution companies (DISCOs), proposing a tariff reduction of Rs1.035 per kilowatt-hour (kWh) compared to the…

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Print 2025-01-19

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LESCO

‘Disco Support Unit’ established LAHORE: In a significant move to curb power theft and improve recovery, the government has established a Disco Support Unit. According to a press release issued by LESCO’s spokesperson, the unit has been set up on the directives of the government of Pakistan. The unit will be headed by Chief Executive LESCO Engineer Shahid Hyder as its Director, while Sector Commander Civil Armed Forces will serve as its Co-Director. The unit will also comprise officials from the district government, police, FIA, Military Intelligence, and ISI. The…

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Pakistan Ends Sui Gas Companies’ Monopoly, Opens Sector to Private Players

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Gas-Prices

Islamabad, January 18, 2025 – The longstanding monopoly of Sui gas companies in the purchase and sale of gas has officially ended as the Petroleum Division notified the implementation framework for third-party gas sales. This landmark move, endorsed by the Executive Committee of the National Economic Council (ECNEC), allows private companies to purchase up to 100 mmcfd of gas annually, with a cap to be reviewed yearly. The decision stems from amendments to the 2012 Exploration and Production (E&P) Policy, approved by the Council of Common Interests (CCI) on January…

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World Bank Mission to Assess Delays in Dasu Hydropower Project Progress

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Dasu-Dam

Islamabad, January 18, 2025 – The World Bank will conduct an Implementation Support and Progress Review Mission for the Dasu Hydropower Project (DHP) Stage 1 from February 10 to March 5, 2025. The mission will evaluate the project’s progress and address implementation challenges. The 242-meter (794 ft) tall dam, designed to support a 4,320 MW hydropower station, is being constructed in two 2,160 MW stages. The project is scheduled to begin power generation in July 2027. However, progress has slowed significantly, with delays linked to restrictions on international workers’ transportation…

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