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Japan has publicly pledged its support for overseas LNG project finance as it sees LNG as a transitional energy source that can supplement renewables and help replace coal in its efforts towards 2050 carbon neutrality goals, just days ahead of the climate change summit to be hosted by US President Joe Biden. State-owned Japan Oil, Gas and Metals National Corporation said April 20 that it will step up financial support for LNG projects and enhance its market information as part of efforts to ensure Japan’s LNG supply security. Jogmec said…

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The Irving oil major warned, however, that developing a so-called Houston CCS Innovation Zone — billed as the biggest carbon sequestration project in the world — would require a public-private partnership and government funding. “We believe the time is right for a large-scale collaboration in the United States between government at every level, private industry, academia and local communities to create an “Innovation Zone” approach to dramatically accelerate Carbon Capture and Storage progress,” Joe Blommaert, president of Exxon’s new low-carbon business, said in a blog post Monday evening. “And we…

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The Cabinet has constituted a 10-member inter-ministerial committee to rationalize processes and develop cross-cutting strategies to reduce time and costs across the entire logistics chain, official sources told Business Recorder. Secretary, Maritime Affairs Division, in his presentation to the Cabinet on rationalization of port charges said that in order to appreciate the issue of the charges at the port in its true perspective, all contributory factors may be looked at holistically, which include port, terminal, shipping line and shipping agent. The port charges have direct linkages with the performance of…

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As oil marketing companies (OMCs) have refused to bear operational losses in the transportation of petrol through a pipeline, the government is likely to pass on these losses to the oil consumers. High-speed diesel and petrol are among the widely used fuels in the country, with diesel being utilised by the transport and agriculture sectors. The main source of transportation for petroleum products, mainly petrol, is oil tankers, which are not efficient and there have been reports of oil theft by these lorries. At present two pipelines – the White…

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Karachi: The National Forum for Environment and Health (NFEH) has demanded the federal and provincial governments to adopt the tree plantation drive in the country as an integral part of the national agenda while setting aside all their mutual political differences.The NFEH President, Naeem Qureshi, stated this in a press statement issued on Wednesday on the eve of Earth Day being observed all over the world.Mr. Qureshi mentioned on the occasion that the theme of this year’s Earth Day was “Restore our earth” as conducing the countrywide plantation drive was…

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