Category: News & Announcement

The year 2020 is already unforgettable in many ways. The Covid-19 pandemic brought the world to a standstill. With the economy on hold, energy consumption has plummeted including demand for LNG. The price of the supercooled fuel reached unprecedented lows in the spring of 2020. Within a year, however, the revitalization of the market is a fact. Prices in especially Asia have reached astronomic heights due to a combination of factors.  The most important LNG buyers-markets are in Asia and Europe. The latter, however, also enjoys a well-developed crossborder pipeline infrastructure…

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ISLAMABAD: The Cabinet Committee on Energy (CCOE) has formed a committee to streamline the process for providing industrial gas connections in Balochistan. The committee will formulate criteria for approving the new connections to eliminate possibility of any discretionary decision. A meeting was held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar in Islamabad on Thursday. The Petroleum Division proposed the setting up of a committee for streamlining the process of industrial gas connections in Balochistan. The cabinet body on energy approved the proposed committee and directed…

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ISLAMABAD: Pakistan and Turkmenistan are engaged in efforts to deepen trade relations between the two countries. During a meeting between Ambassador of Turkmenistan to Pakistan Atadjan Movlamov and Adviser to Prime Minister on Commerce Abdul Razak Dawood, both sides discussed the historical bilateral relations. They agreed that the bilateral trade was below its true potential and resolved to increase the volume. In light of Pakistan’s interaction with Afghanistan and Uzbekistan, now Turkmenistan also wants to enhance trade relations with Pakistan. Hence, the Ministry of Commerce is developing a strategy to…

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The Trump administration has finalized a plan that will open up more land for oil and gas drilling in the Alaska Petroleum Reserve, the Bureau of Land Management said this week, adding that the plan covers 18.6 million acres in the reserve. At the same time, the BLM closed 4 million acres to oil and gas drilling, including the habitats of several species. “This action is a significant achievement in delivering on our commitment to provide energy for America, from America,” Principal Deputy Assistant Secretary Casey Hammond said in the…

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South Korea has dispatched military forces to the Strait of Hormuz after the Iran Revolutionary Guard seized a Korean-flagged oil tanker yesterday. According to Arirang News, the dispatched force is South Korea’s anti-piracy unit. It comprises a 300-strong force, a helicopter, and a 400-ton destroyer. “The South Korean tanker was stopped in the waters of the Persian Gulf” because of environmental pollution, the IRGC Navy said, as carried by the Iranian Fars News Agency. The ship is headed to one of the ports in Iran, where the issue “will be…

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