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Tag: LNG

“PSO Sounds Alarm Over Rising Circular Debt, Urges Payment of Rs550 Billion Dues for LNG Supply”

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pso

Pakistan State Oil (PSO) has raised concerns about the escalating circular debt in the energy supply chain, particularly in liquefied natural gas (LNG) sales, warning of potential disruptions if outstanding dues are not addressed promptly. In a letter addressed to the managing director of Sui Northern Gas Pipelines Limited (SNGPL), PSO highlighted the critical issue of increasing outstanding payments for…

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Provinces Refuse to Share Subsidised LNG Costs, Rs17 Billion Burden Shifted to Domestic Consumers

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Pakistan-LNG

The caretaker government has decided to burden domestic consumers with Rs17 billion in costs as provinces decline to bear the expense of subsidised liquefied natural gas (LNG) supplied to two fertiliser plants. Provinces are insisting on full recovery of LNG costs from farmers, leading to this decision. The Petroleum Division estimates that continuing the supply of re-gasified LNG at Rs1,239…

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Qatar to Bolster Gas Production Despite Global Price Slump: Plans Expansion Amidst Fierce Competition

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New-RLNG

Despite a significant decline in global gas prices, Qatar remains steadfast in its commitment to increase gas production, setting forth plans for further expansion amidst intense competition, notably from the United States. Saad al-Kaabi, the chief of QatarEnergy, announced a new phase of expansion in liquefied natural gas (LNG) production, aiming to add an additional 16 million tonnes per annum…

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Gas Price Hike Hits Unprotected Consumers Hard

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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

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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

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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

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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

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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

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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

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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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