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Pakistan is looking to buy liquefied natural gas (LNG) for the winter, but it couldn’t find any sellers in a recent tender, which highlights the fact that the natural gas market in Asia is tight. Pakistan has issued a tender seeking eight LNG cargoes for delivery in December and January, but has not received any bids, according to a document from Pakistan LNG. Industry sources told Reuters that the main driver behind the lack of offers was the long validity period of the offers, 15 days, considering the volatile prices…

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An Accountability Court (AC) on Tuesday sought comments from National Accountability Bureau (NAB) in a petition of co-accused seeking dismissal of LNG reference under new NAB Ordinance. However, former prime minister Shahid Khaqan Abbasi and ex-finance minister Miftah Ismail didn’t become part of the petition. AC-II Judge Muhammad Azam Khan heard the reference filed by NAB against the above accused. At the outset of hearing, the defence lawyer produced the copy of NAB Ordinance before court and prayed it to dismiss the reference under new law. Barrister Qasim said they…

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Surging power demand to support an economic revival, import slowdown due to high global prices, and seasonal disruptions have created coal shortages in India that have not been not seen in years, raising fears of widespread power cuts and triggering a broader debate on the country’s preparedness to shed its dependence on imports. Some coal-powered plants may be staring at a dark festive season as the supply squeeze has come at a time when power demand is typically at its highest of the year. “India is more exposed to the…

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Investment in renewable energy needs to triple by the end of the decade if the world hopes to effectively fight climate change and keep volatile energy markets under control, the International Energy Agency (IEA) has said. “The world is not investing enough to meet its future energy needs … transition‐related spending is gradually picking up, but remains far short of what is required to meet rising demand for energy services in a sustainable way,” the IEA said in its annual World Energy Outlook released on Wednesday. “Clear signals and direction…

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Qatar, the world’s biggest exporter of liquefied natural gas, said it’s “unhappy” prices are so high but is producing at maximum capacity. The comments from Energy Minister Saad Al-Kaabi on Monday come amid a crisis in gas markets, with prices rocketing as supply fails to keep up with soaring demand. Although Qatar is spending billions of dollars to increase output, it has said it will struggle to boost production in the near term. “We are maxed out,” Al-Kaabi said at an event in Doha, adding that volumes are currently around…

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