ISLAMABAD: The government is currently in a fix on LNG bids it received for the month of March and is making its mind either to stick with the bids which are at higher side or go for retendering as the LNG availability in the international market has started improving. The LNG value has tumbled by $2 per MMBTU in recent days. Top sources in the Petroleum Division told The News that authorities concerned are thinking as to whether they should go for retendering or not. They said that although the…
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Govt to publish inquiry report on power breakdown
ISLAMABAD: The government on Wednesday said it would publish the inquiry report on the recent countrywide power breakdown within a few days, insisting that no favour had been given to independent power producers (IPPs) in recent negotiations. “No NRO has been given to the IPPs; it’s all a misconception. We have to look into ways to rationalise the pacts signed under power policies of 1994, 2002 and 2006,” Minster for Energy Omar Ayub Khan told the National Assembly’s Standing Committee on Power. He was responding to the comments by members…
Read MoreIndustrialists decry ban on gas supply
Industrialists have expressed grave concern over the decision taken by the government to cut gas supply to all industrial units from February 2021, terming it a counterproductive move. In a statement, North Karachi Association of Trade and Industry (NKATI) President Faisal Moiz Khan, while opposing the decision taken by the Power Division, urged the federal government and Minister for Planning, Development and Special Initiatives Asad Umar to immediately withdraw the decision. Labelling it as unwise and anti-industry move, he requested the government not to make decisions that would hamper production…
Read MoreWind projects may fetch $2b investment
LAHORE: Pakistan has the potential to produce approximately 150,000MW of energy from wind energy sources, said Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President SM Naveed. Speaking at a think tank session, he said that wind projects could fetch investment of around $2 billion. “Government should opt for short-term energy projects to curb the prevailing energy crisis that has crippled the national economy in general and the industrial sector in particular,” he said. He recalled that the government had planned to achieve generation of 2,500MW of energy from wind sources, 1,000MW through…
Read MorePakistan LNG seeks Feb cargoes again after supplier unable to deliver
SINGAPORE/LONDON: Pakistan LNG is seeking two liquefied natural gas (LNG) cargoes for delivery in February, after at least one supplier was unable to deliver a scheduled cargo, two industry sources told Reuters on Tuesday. Pakistan LNG, a government subsidiary that procures LNG from the international market, is seeking the cargoes for delivery over Feb. 15-16 and Feb. 23-24, one of the sources said. The tender closes on Thursday, a second source said. Pakistan LNG said on Saturday that a supplier, who had submitted the lowest offer in a buy tender…
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