Germany to break free from Russian gas with two LNG terminals

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This was announced by German Chancellor Olaf Scholz at a special session of the Bundestag on 27 February 2022 addressing Russia’s attack on Ukraine. As informed, the LNG terminals are planned to be located in Brunsbüttel and Wilhelmshaven. Currently, there are several liquefied natural gas terminals in Europe, however, none of them are located in Germany. Security of energy supply Scholz also…

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OLIVE TS, HDPPL sign ‘Services Agreement’

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OLIVE Technical Services; a wholly owned subsidiary of Fauji Fertilizer Company (FFC) and Hydro China Dawood Power (Pvt) Ltd (HDPPL) signed a Services Agreement on Monday 28th February, 2022 at Gharo, Pakistan. Under this agreement, OLIVE Technical Services shall carry out detailed End of Warranty Inspection Services for 49.5 MW Wind Power Plant of HDPPL located at Gharo, Sindh, Pakistan.…

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New exploration, more gas production: PD asked to set up technical group

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The Economic Coordination Committee (ECC) of the Cabinet has directed Petroleum Division to constitute a technical group to examine the options of new exploration as well as enhancing gas production from existing fields through some incentives, and diverting new exploration towards LPG. These directions were issued at a recent meeting of the ECC during discussion on a proposal of Petroleum…

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Turkey’s underground gas storage capacity to reach 10 bcm in 2023

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Turkey is working to increase the natural gas storage capacity at its facilities. Accordingly, the total capacity of the two facilities, Silivri and Lake Tuz underground natural gas storage facilities, will reach 10 billion cubic meters (bcm) next year, with the completion of the capacity increase works, Energy and Natural Resources Minister Fatih Dönmez said Sunday. Dönmez made the statements…

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Cost of power generation

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The average cost of fuel used for electricity production doubled last month compared to Jan 2021, raising serious inflationary concerns among commercial and residential consumers alike. Even if we look at the Nepra data for Dec 2021, fuel costs were still up by almost 50%. Although the increase is mainly for reasons beyond the government’s hands — prices of coal,…

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Circular debt rises to Rs2.476tr by Dec 2021

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The scourge of circular debt of cash bleeding power sector has gone up by Rs1,328 billion in the last 40-month rule of PTI government, climbing up to Rs2,476 billion till December 2021.https://0200f1fc14232232425dd4f5771e468d.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html “The Circular Debt (CD) stood at Rs1,148 billion when the PTI government had assumed reins of power in August 2018. It has now gone up to Rs2,476 billion,…

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Chinese coal prices fall on state planner’s cooling measures

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China’s thermal coal futures fell as much as 7.5% on Thursday after the state planner warned companies against inflating coal prices and reiterated it would ensure enough supply to stabilise markets. The most-active thermal coal futures on the Zhengzhou Commodity Exchange were down 3.5% at 836.2 yuan a tonne by 0330 GMT, after falling as much as 7.5% at one…

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CDC Group and Gul Ahmed Metro Group forge joint venture to scale renewable power in Pakistan

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The Metro-BII Renewables joint venture aims to add 500 megawatts (MW) low-cost renewable power to Pakistan in the medium term, increasing jobs and expanding economic opportunities • The joint venture will mitigate Pakistan’s carbon emissions, cutting 728,000 tonnes of carbon dioxide per year for the planet • Investment aligns with CDC’s ambition to invest over £3 billion of climate finance…

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