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LNG

Sindh Govt orders crackdown against LNG, LPG cylinder shops

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Sindh Govt

KARACHI: The Sindh government has ordered action against illegal Liquefied natural gas (LNG) and Liquefied petroleum gas(LPG) cylinder shops across the province.

The decision to take action against illegal LNG and LPG cylinder shops in the province was taken after 27 people died due to cylinder explosion in Hyderabad.

In the letter, the Deputy Commissioners (DCs) of the province have been ordered to move the illegal LNG and LPG cylinder shops outside the cities, inspect the shops and submit a report every week.

The letter further said that substandard cylinders should be confiscated. The LNG and LPG shops should be shifted away from markets and residential areas.

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OGRA reduces the price of LNG

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OGRA

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has reduced the price of liquefied natural gas (LNG) to $1.21 per Metric Million British Thermal Unit (MMBTU).

According to OGRA, the price of LNG for January has been released, LNG on the Sui Northern system has been priced at $1.13 per MMBTU in January, while LNG on the Sui Southern system has been priced at $1.21 per MMBTU.

OGRA said the decline in LNG prices is less than December prices.

According to OGRA, the new price of LNG on the Sui Northern system has been fixed at $13.68 per MMBTU, while the price of LNG on the Sui Southern system has been fixed at $14.24 per MMBTU.

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Pakistan signs agreement with Azerbaijan for LNG procurement

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Azerbaijan

LAHORE: Pakistan has signed a framework agreement with Azerbaijan for LNG procurement on flexible terms for one year. The agreement signed between Pakistan LNG Limited and Azeri Company SOCAR in Lahore was witnessed by Prime Minister Shehbaz Sharif. Speaking on the occasion, the prime minister said the life of this agreement is one year and … Read more

Planned LNG cargo delivery by ENI to Pakistan delayed

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Pakistan ENI

An LNG cargo delivery to Pakistan has been delayed, according to Italian energy giant Eni. Pakistan has had difficulty obtaining spot LNG shipments. Long-term agreements for LNG imports to Pakistan are insufficient. A liquefied natural gas cargo delivery to Pakistan LNG Limited that was planned for February has been delayed, according to Eni, which announced … Read more

COP27: UK to announce gas deal with US following summit

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Rishi Sunak

The United States is expected to provide approximately 10 billion cubic meters of LNG over the course of the next year. Discussions over the deal are in their final stages It is unknown how much of the gas will be present in the UK’s energy grid this winter. The UK local news channel claimed on … Read more

PM to visit Qatar for new LNG supply deal

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qatar

ISLAMABAD: Prime Minister Shehbaz Sharif is expected to visit Doha, Qatar on Wednesday (tomorrow) to hold consultations on a new LNG deal amid the soaring energy crisis. During the visit, the prime minister will hold talks with the Qatari leadership. He will also discuss a new LNG deal with Qatar and seek relief in the … Read more

Australia expects its mining and energy exports to reach record levels

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mining

Australia’s mining and energy export revenues are forecast to climb 3% to a record A$419 billion ($286 billion) in the year to June 2023. Sanctions on Russia for what Moscow calls a “special military operation” to disarm. Ukraine has sent prices for liquefied natural gas and coal to all-time highs. Australia’s mining and energy send-out … Read more

Exports and non-exports in Punjab without gas until July 9

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Punjab’s export and non-export sectors are without gas until July 9. Pakistan LNG Limited failed in three efforts to buy LNG on international spot market. Government will reassess its decision after Eid-ul-Azha. Punjab’s export and non-export sectors are without gas until July 9, The News reported. The decision to suspend gas supplies was made to … Read more

US LNG exporters are looking to Europe as energy crisis intensifies

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LNG

US exporters of liquefied natural gas announce agreements to increase supplies to Europe. US exporters are looking to fill the void left by Russia’s withdrawal from LNG imports. Long-term supply agreements have locked up purchases of U.S. gas for future decades. Wednesday, US exporters of LNG announced plenty of agreements to increase supplies to Europe, … Read more

Exxon joins Qatar’s mega-LNG expansion project

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Exxon

Qatar is teaming with multinational corporations in the first and largest phase of a nearly $30 billion development Will help the country become the world’s top LNG exporter. The North Field East project consists of four trains, or liquefaction and purification facilities, for which oil majors have been bidding. Following deals with TotalEnergies, Eni, and … Read more

Fuel import addiction undermines energy security, financial stability

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Petroleum prices to fall

KARACHI: Pakistan’s addiction towards imported fossil fuels, which now has shifted towards liquefied natural gas (LNG) as a replacement fuel, undermines the country’s energy security and financial stability, IEEFA’s latest report suggests. “LNG sourced from global markets now costs 5 to 10 times more expensive than domestically produced gas in Pakistan,” Haneea Isaad, the co-author … Read more

OGRA announces a price rise for LNG in May

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OGRA

Price of LNG increases by $6.22/MMBTU on the Sui northern system. Price increases by $6.87/ MMBTU on Sui southern system. The hike is for the month of May. The Oil and Gas Regulatory Authority (OGRA) on Friday issued a notification to grow the charge of liquefied herbal gasoline (LNG) for the month of May. According … Read more

Croatia preparing to become Europe’s energy Hub after it boycotts Russia

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Croatia will continue to back Ukraine says Plenkovic

Croatia preparing to become Europe’s energy Hub after it boycotts Russia Croatia could turn into an “energy center in the northern Adriatic” as Europe tries to wean itself off Russian energy, Prime Minister Andrej Plenković said during a visit to Cyprus on Wednesday. Croatia’s liquid petroleum gas (LNG) terminal on the northern Adriatic island of … Read more

Germany’s ‘sharp recession’ due to Russian gas cuts

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russian gas

FRANKFURT: The sudden cessation of Russian energy supplies will plunge Germany into a “sharp recession” next year, prominent economic forecasters predicted Wednesday. Germany, which relies heavily on Russian gas, has so far rejected demands for a European embargo. A 1.9 percent growth in 2022 and a 2.2 percent contraction in 2023 are predicted if the … Read more

Pakistan may claim damages from suppliers

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LNG spot prices in Asia have risen by 16 percent as a result of Russia's gas supply restrictions, according to Platts.

KARACHI: Fed-up with the continual liquefied natural gas (LNG) suppliers’ default under one pretext or the other, Pakistan is considering to claim damages from the Italy-based ENI and Swiss Gunvor for their failure to meet their contractual obligations, depriving the country of essential fuel supplies. This would be in addition to the 30 per cent … Read more

Market guru

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WACOG

Weighted average cost of gas (WACOG) Bill is a positive sign for Pakistan, as it would ensure gas availability across all sectors countering the impact of depleting domestic gas reserves. Under the new pricing mechanism, the ratio of supply of local gas and the liquefied natural gas (LNG) would change to 50/50 from the current … Read more

LNG industry rebounds in 2021 amid supply constraints, volatile prices

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lng

KARACHI: The global trade in liquefied natural gas (LNG) increased 6 per cent to 380 million tonnes during 2021, as many countries rebounded from the Covid-19 pandemic, according to the Shell’s latest annual LNG Outlook. The rising LNG demand, combined with supply constraints, caused gas and LNG prices to remain volatile throughout the year. The … Read more

Summer to see unprecedented gas shortages, claims Sherry Rehman

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Human rights organisations

PPP Senator Sherry Rehman claimed on Monday that the upcoming summer season would see “unprecedented gas shortages because the government had been unable to secure two new Liquefied Natural Gas (LNG) terminals from Japan and Qatargas consortiums. “Unbelievable incompetence [of the PTI government], given the urgent need for gas in Pakistan,” said Rehman on Twitter. … Read more

Pakistan bourse likely to remain under pressure

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pakistan stocks

KARACHI: The KSE-100 Index lost 404 points to close at 45,676 level during the outgoing week ended February 18, 2022. Going forward, analysts expect the market to remain under pressure after the National Assembly passed the Ogra Amendment bills to bring entire liquefied natural gas (LNG) and re-gasified liquefied natural gas (RLNG) licensing and pricing … Read more

Pakistan lacks technology to store renewable energy

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pakistan

KARACHI: Pakistan is facing a severe energy crisis that has affected all the sectors of the economy, with parts of the country experiencing unannounced hours long power outages on a daily basis. The country generates its power from an energy mix that includes oil, natural gas and liquefied natural gas (LNG), coal, renewable resources, including … Read more

Gas shortage cripples exports

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exports

ISLAMABAD: Fiscal 2020-21 (July-June) proved an excellent year for Muhammed Saleem, as he exported garments worth $2.5 million. This year he aimed for a higher target, but the crippling gas shortages shattered all his dreams. “I was aiming to export garments worth at least $3 million during the ongoing fiscal year,” said Saleem, who owns … Read more

The great LNG crunch

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lng

Despite all the hue and cry around gas shortages, Pakistan has not been able to develop any new liquefied natural gas (LNG) terminals since 2017, while smooth commercial import of the scarce commodity still remains a far cry. Energy is a very tricky subject as far as Pakistan is concerned, where the industrialists, compressed natural … Read more

Masses being punished for mismanagement of PTI government, says Saeed Ghani

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Saeed Ghani

KARACHI: Reiterating that Pakistanis were being punished for the mismanagement of the Pakistan Tehreek-e-Insaf (PTI) government, Sindh Information Minister Saeed Ghani announced that the Pakistan Peoples Party (PPP) will stage a protest against it on February 27. Read more: JI following MQM-P’s footsteps by following divisiveness for political gains: Saeed Ghani While talking to the media … Read more

EETL handles 1,226bcf LNG annually: CEO

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EETL

ISLAMABAD: Engro Elengy Terminal Limited (EETL), Pakistan’s first LNG terminal has handled around 25 million tonnes liquefied natural gas (LNG) (1,226bcf gas), since it’s commissioning in 2015, to meet the energy needs of the country. The terminal has successfully handled about 419 Ship-To-Ship cargoes safely and at the fastest speed in the world, Chief Executive … Read more

Increased LNG terminals can resolve gas crisis: EETL CEO

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EETL

KARACHI: Engro Elengy Terminal (EETL) chief executive officer Yusuf Siddiqui has underlined the need for expansion of the existing liquefied natural gas (LNG) terminals and development of onshore terminals to effectively tackle the prevailing gas crisis in the country. “To curtail the gas crisis, Pakistan must prioritise the expansion of [the] existing terminals under the … Read more

FPCCI expresses surprise over purchase of LNG at inflated rates

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FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president Mian Nasser Hyatt Maggo has expressed astonishment at the purchase of liquefied natural gas (LNG) at the rate of $30.6/MMBTU and said that this rate will destroy the fuel supply safety and foreign exchange reserves of the country, a statement said. Welcoming the visit … Read more

SNGPL agrees to wave of 66% ‘Take or Pay’ clause: minister

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SNGPL

ISLAMABAD: The board of directors of the Sui Northern Gas Pipelines Limited (SNGPL) has agreed to waive 66 per cent “Take or Pay” clause for the government-owned liquefied natural gas (LNG) plants, a senior government official said. “In the long run, this will help reduce the capacity payments that the government has to pay to … Read more

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