LONDON: Asian spot liquefied natural gas (LNG) prices hit a two-month high this week, tracking a rally in European gas prices, despite subdued Asian demand due to healthy inventories. The average LNG price for March delivery into north-east Asia was at $14.90 per million British thermal units (mmBtu), the highest since early December and up from $13.80/mmBtu last week, industry…
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Chinese turbine maker strikes Pakistan wind power pact
Mingyang will supply one hybrid wind, solar and energy storage facility and another wind farm under terms of deal Mingyang has struck a deal to supply two wind power projects in Pakistan during a visit of the country’s president to China. Pakistan’s President Asif Ali Zardari witnessed the signing of a strategic cooperation agreement between Mingyang and the energy department…
Read More$300 million deals in energy, coal, and cement inked between China, Pakistan
BEIJING: President Asif Ali Zardari on Thursday witnessed the signing of Memorandums of Understanding (MoUs) worth more than $300 million in the energy, coal, and cement sectors in Beijing. The agreements, signed between Pakistani stakeholders and Chinese investors, aim to enhance the country’s industrial growth and energy sustainability. The Energy Department of the Government of Sindh and Ming Yang Renewable…
Read MorePakistan, China sign MoUs to enhance cooperation in clean energy, construction
Pakistan and China signed multiple memorandums of understanding (MoUs) Thursday to enhance cooperation in different fields, including renewable energy, fertiliser and construction. An MoU was signed between Pakistan’s Thatta Cement Company and China’s Qing Gong Construction Group, under which a production line will be set up in Pakistan to increase cement production by 5,000 tonnes per day. Another MoU was…
Read MoreOil firms slightly as Trump policies continue to drag on prices
LONDON: Oil prices edged up on Thursday after Saudi Arabia’s state oil company raised its March crude prices sharply, but the gains barely dented the previous day’s slide in benchmark Brent crude. Brent crude futures rose 28 cents, or 0.4%, to $74.89 a barrel by 1251 GMT. U.S. West Texas Intermediate crude was up 29 cents, also 0.4%, at $71.32.…
Read MoreGold prices hit all-time high in Pakistan
Gold prices have surged to historic levels in Pakistan, driven by increases in both the international and local markets. In the global bullion market, the price of gold rose by $29 per ounce, reaching $2,772, Express News reported. Locally, gold prices hit record highs on Friday. The price of 24-karat gold climbed by Rs2,900 per tola to reach Rs289,600, while…
Read MoreGlobal LNG: Asian spot LNG little changed on ample stocks, mild weather
KUALA LUMPUR: Asian spot liquefied natural gas (LNG) prices were little changed this week, as ample inventories and mild weather capped demand from East Asian buyers. The average LNG price for March delivery into north-east Asia rose slightly to $14.00 per million British thermal units (mmBtu), industry sources estimated. “Demand in Asia remains tepid, with East Asia demand relatively constrained…
Read MorePakistan, World Bank agree to expedite implementation of Dasu Hydropower Project
Pakistan and the World Bank have agreed to expedite the implementation of Dasu Hydropower Project (DHP) planned to build a 242-metre tall dam that will support a 4,320 megawatts (MW) hydropower station. The development was shared by World Bank’s Vice President for South Asia Martin Raiser in a post on X, after a meeting with Pakistan energy ministers, Sardar Awais…
Read MoreLNG traders divert six US cargoes to Europe from Asia
SINGAPORE: Traders diverted at least six cargoes of liquefied natural gas that were on course for Asia to Europe earlier this month, drawn by higher European prices and amid weak Asian demand, according to analysts and shipping data. The diverted cargoes could help meet additional European demand as countries seek to replace piped Russian gas after the Ukraine transit deal…
Read MoreAs cut in power tariff likely FRIA wants major reduction
LahoreAs the National Electric Power Regulatory Authority (Nepra) is likely to slash power tariff by Rs1.035 per unit as part of monthly fuel price adjustment for December 2024, the Ferozepur Road Industrial Association has said that some major cut should be introduced to provide relief to electricity consumers, who are bearing very high tariffs.FRIA Chairman Shahbaz Aslam said that the…
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