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Asia gas prices may be high, but over the years they are poised to go even higher due to two key developments that threaten to change Japan’s role and influence in global liquefied natural gas (LNG) markets, according to the latest analysis from Japan NRG. For decades Japan was the dominant buyer in the LNG market. In the first six months of 2021, however, China’s demand growth made it the world’s top LNG importer, overtaking Japan and South Korea. China’s demand for LNG is expected to keep rising. With China’s…

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SINGAPORE, Oct 6 (Reuters) – Asia liquefied natural gas (LNG) spot prices surged by 40% to a record high of over $56 per million British thermal units (mmBtu) on Wednesday, amid a global energy crunch, low gas inventories and mounting supply concerns. Price agency S&P Global Platts’ Japan-Korea-Marker (JKM), which is widely used as a spot benchmark in the region, climbed to $56.326 per mmBtu on Wednesday for a cargo delivered into North Asia in November, recording the largest single-day price increase of $16.65 from Tuesday, its data showed. This…

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Byco and Axens are pleased to announce that Axens has been selected to support Byco’s Refinery upgrading Project Phases I, II, III with providing advanced technical solutions in order to achieve Euro V gasoline and diesel specifications in Pakistan. The solution consists of a unique integration of three existing units into a Cracked Naphtha Desulfurization unit using best in the business Prime-G+® licensed technology. This technology plays a major role in meeting Euro V specifications with the best octane retention along its selective hydrodesulphurization process. Virgin Mix Distillate Hydrotreater (DHT-2),…

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Sellers of liquefied natural gas (LNG) are asking for credit letters from companies they deal with to guarantee they can pay as the global spike in gas prices takes them beyond their credit limits, industry sources said. Defaults have been rare in LNG, which has typically relied on big players with deep pockets, but over the last two-to-three years, around 20-to-30 companies have entered the market, at least doubling the number of relatively small players. These companies were lured by a spike in demand, especially in Asia, spurred by relatively…

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National Electric Power Regulatory Authority (Nepra) has notified Quarterly Tariff Adjustment (QTA) of Rs 1.65 per unit to be effective from October 1, 2021 for consumers using up to 700 units per month which has replaced previous QTA of Rs 1.62 per unit, posting an increase of paisa 3 per unit. According to Nepra, the Authority has determined QTA of paisa 82.76 per unit for fourth quarter of 2019-20 and Paisa 89.66 per unit for first and second quarter of 2020-21, totalling to Rs 1.7242 per unit. However, after determination…

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