Gas Price Hike Hits Unprotected Consumers Hard

LNG-import

In line with the federal cabinet’s decision, the Oil and Gas Regulatory Authority (OGRA) has announced a significant increase in natural gas prices effective from February 1, 2024, with unprotected consumers facing the brunt of the hike. Protected consumers will experience a gradual increase in tariff slabs, ranging from Rs. 80 to Rs. 100 per Million British Thermal Units (MMBtu),…

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Regulator Reduces RLNG Prices for February Due to Lower International Prices

lng

In response to significant system losses and decreasing international prices, the Oil and Gas Regulatory Authority (Ogra) has announced a reduction in the sale price of Regasified Liquefied Natural Gas (RLNG) for Sui Southern Gas Company Ltd (SSGCL) and Sui Northern Gas Pipelines Ltd (SNGPL) for the current month, effective Feb 1. This marks the second consecutive month of decline…

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Shell Predicts 50% Surge in LNG Demand by 2040

Pakistan-LNG

London: British energy giant Shell has forecasted a significant increase in global demand for liquefied natural gas (LNG), estimating a rise of over 50 percent by 2040. This surge in demand is primarily attributed to China’s transition away from coal. According to a report released by Shell, while natural gas demand has already peaked in certain regions, it continues to…

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LNG, financial power sectors: Competition studies ordered

lng-usa

ISLAMABAD: An inter-ministerial committee has directed Competition Commission of Pakistan (CCP) to undertake competition studies on LNG, financial and power sectors aimed at strengthening the public investment management system, well informed sources told Business Recorder. The decision was taken at a follow up meeting presided over by Additional Secretary Finance (Corporate Finance) convened to discuss Action Plan recommended by IMF’s PIMA…

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Govt decides to execute mega gas projects

TAPI-gas

These include IP and TAPI pipelines to meet future consumer demand ISLAMABAD: The top leadership has decided to press ahead with all mega gas projects including the Iran-Pakistan (IP) pipeline to meet the growing consumer demand in future. Sources told The Express Tribune that the Petroleum Division had conducted a study on the requirement and future demand for gas projects.…

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SIFC takes notice of JJVL closure

LPG-Air-Mix-Plant

ISLAMABAD: In a new development, Special Investment Facilitation Council (SIFC) has taken the notice of closure of the Jamshoro Joint Venture Limited (JJVL) LPG-NGL extraction plant since June 2020 and directed the Petroleum Division to help resolve the disputes between the plant management and Sui Southern authorities. The plant can be used as an import substitution industry against LPG import…

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PLL Secures Second LNG Cargo from SOCAR under Government-to-Government Framework Agreement

Pakistan-LNG

Ministry of Energy (Petroleum Division) and Pakistan LNG Limited (PLL) are pleased to announce the successful procurement of a second LNG cargo from the State Oil Company of the Azerbaijan Republic (SOCAR) under the Government-to-Government Framework Agreement between PLL and SOCAR. The cargo is scheduled for delivery in February 2024, further strengthening the energy partnership between Pakistan and Azerbaijan. In…

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Fuel oil exports jump 116pc in first half as domestic demand slumps

Pakistan-LNG

KARACHI: Pakistan exported a record amount of fuel oil in the first half of the current financial year, surpassing the total exports of the previous year, as domestic demand plunged due to a shift to cleaner energy sources, data from the oil sector showed on Monday. The country exported around 600,000 tonnes of fuel oil from July to December 2023,…

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Senate panel wants LNG imports by private parties

lng

ISLAMABAD: The Senate Standing Committee on Petroleum recommended to the government on Friday that private parties should be allowed to import liquefied natural gas (LNG) which would not only improve its availability but would also bring down prices through competition. The committee met in the Parliament House under the chairmanship of Senator Mohammad Abdul Qadir who recommended that officers from…

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NEPRA considers hike of Rs4.66/unit

power-tariff

Attributes rise to FCA; will put additional burden of Rs33b on consumers ISLAMABAD: As the calendar flips to 2024, consumers are bracing themselves for yet another blow to their household budgets. The National Electric Power Regulatory Authority (Nepra) has signalled a potential surge in electricity prices, with a proposed increase of up to Rs4.66 per unit in the electricity bills…

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