Category: Recent Post

Allocation of existing pipeline capacity: Move to create monopoly of two private LNG terminals gets scuttled

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ISLAMABAD: The move by the Maritime Affairs Division (MAD) for creating a monopoly of two private LNG terminals, which are not yet visible on the ground, on the existing pipeline capacity has got scuttled as a sub-committee on the issue, headed by Asad Umar, has clearly opposed the move, saying the concessions proposed to the original terms of the provisional LoI (Letter of Intent) and project guidelines are meant to favoring the two companies, Tabeer and Energas that could leave other players in the market high and dry. The concessions…

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Steel company to install solar power project

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At a time when the government is suspending gas supply to the industry that generates its own electricity, Agha Steel Industries has announced plans to install a 2.25-megawatt solar power project. According to a notification sent by the company to the Pakistan Stock Exchange (PSX) on Wednesday, it has signed a contract with Renewable Power Private Limited for installation of the 2.25MW solar power project at its production facility located at Port Qasim, Karachi. “Meezan Bank has been nominated as the lead Islamic banking arranger for the project,” it said.…

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Fauji Fertiliser to get gas supply for another five years

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ISLAMABAD: The Eco­no­mic Coordination Commi­t­t­ee (ECC) of the cabinet on Wednesday allowed continuation of gas supply to Fauji Fertiliser Bin Qasim for an­other five years and remo­ved a cap on dividend distribution on Mari gas to facilitate divestment of about 20 per cent of its shareholding. A meeting of the ECC presided over by Minister for Finance and Revenue Dr Abdul Hafeez Shaikh also approved a technical supplementary grant of about Rs190 million, including Rs150m for advertisement campaign for projection of government activities on Covid-19 and Kashmir Solidarity Day. The…

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Tabeer Energy and Energas, were pressing the Port Qasim Authority (PQA)

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Tabeer Energy and Energas, were pressing the Port Qasim Authority (PQA) and the government to win waiver from the commitments included in the implementation agreement (IA). Their plans to set up LNG terminals have also been delayed.Tabeer Energy’s consultant Japan Marine Science said it would address PQA’s concern regarding TEPL’s stance on maintaining the original jetty location. Tie-in-point coordinates were still awaited from Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) without which TEPL could not ascertain where its project’s off-to-onshore pipeline would end . Energas…

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Private firms setting up LNG terminals seek waivers

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As the private sector is engaged in setting up liquefied natural gas (LNG) terminals, it has sought guarantees and waivers from some obligations and regulatory approvals. Interestingly, the existing LNG terminals have plans to replace the Floating Storage and Regasification Unit (FSRU) without financial risk for the government but the maritime affairs minister opposes the plan. The government has allowed five parties in the private sector to set up more LNG terminals. However, it has made it clear that it will not bear any financial risk, which it faces in…

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