Tag: LNG
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NAB clears Shahid Khaqan Abbasi, others in LNG reference
The National Accountability Bureau (NAB) has cleared former Prime Minister Shahid Khaqan Abbasi in the Liquified Natural Gas (LNG) reference on Tuesday. The court declared all other suspects innocent in the same reference. Abbasi was arrested by NAB in 2019 for allegedly causing a loss of 21 billion rupees to the national exchequer me The…
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Eight hours of gas supply this season too: Caretaker Federal Minister of Energy
The Caretaker Federal Minister of Energy, Muhammad Ali, has said that gas load-shedding will continue this year, similar to last year when gas was supplied for eight hours a day. This year, natural gas has reduced by 30 per cent whereas the demand is high and supply is low. In a statement, he highlighted that…
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No special treatment: Russia denies exclusive discounts on oil export deal with Pakistan
In a recent statement, Russian Energy Minister Nikolai Shulginov clarified that his country is not providing Pakistan with oil at a special discount. The announcement came during an international economic conference in St Petersburg, where Shulginov confirmed that Russia had begun exporting oil to Pakistan.
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Pakistan to get 20,000 tonnes of additional gas from Azerbaijan
In order to meet domestic demand, Pakistan will import an additional 20,000 tonnes of gas from Azerbaijan in the next two months, according to Minister of State for Petroleum Musadik Malik. The Russian Petroleum Minister will visit Pakistan next month to strike a deal for the purchase of Russian crude oil, the minister said in…
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CNG stations in Punjab, KP to remain shut till March 2023
CNG stations in Punjab and KP will stop operating from November 2022 to March 2023 as the gas crisis increases as a result of the lack of required LNG during the winter. While the government is obligated to purchase 12 LNG cargoes each month, Pakistan LNG Limited (PLL) has been unable to do so; as…
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Fears of an energy crisis increase as Pakistan fails to clinch an LNG deal
A tender for the acquisition of liquefied natural gas (LNG) that expired on Monday did not receive a single bid from any overseas suppliers, according to Pakistan LNG Limited (PLL), a wholly-owned subsidiary of Government Holdings Private Limited (GHPL). PLL originally issued an invitation for bids in August for 72 LNG cargoes to be delivered…
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OGRA lowers RLNG cost by $4.6 per MMBTU
Re-gasified liquefied natural gas (RLNG) will cost consumers of public gas utilities 20.57 per cent less in July 2022 than it did in June, according to a notification from the Oil and Gas Regulatory Authority (Ogra). The government has set the RLNG price for Sui Northern Gas Pipelines Limited’s (SNGPL) customers at $17.4603 per metric…
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OGDCL confirms gas discovery near Ghotki, Sindh
On Wednesday, the Oil and Gas Development Company Limited (OGDCL) announced the finding of gas from an exploration well near Ghotki, Sindh. “The joint venture (JV) of Guddu Block comprising Oil & Gas Development Company Limited as an operator (70 per cent), SPUD Energy PTY Limited (SEPL) (13.5 per cent), IPR Transoil Corporation (IPRTOC) (11.5…
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Pakistan pushed into darkness due to Europe’s decision to cut off Russian fuel
The European attempt to abandon Russian oil is intended to punish Moscow for its invasion of Ukraine. It’s also wreaking havoc thousands of miles away, throwing Pakistan into darkness, destabilising one regime, and jeopardising the country’s new leadership’s stability. According to Bloomberg, Pakistan invested heavily in liquefied natural gas and inked long-term contracts with Italian…
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40-50 per cent hike expected in gas tariff
The government plans to hike the system gas tariff by up to 50 per cent as part of its efforts to gain access to the International Monetary Fund (IMF) bailout. The Ministry of Energy anticipates the Oil and Gas Regulatory Authority (OGRA) determining the revenue requirement for the coming fiscal year in June. As per…