Pakistan Scraps March LNG Tender: Press
Pakistan has decided to scrap the tender for the supply of spot LNG cargoes in the month of March, local media reported on January 23.
Eni and Vitol put in the lowest bids for the supply of three LNG cargoes to Pakistan in March, state-run Pakistan LNG said last week. According to
The Express Tribune, Pakistan LNG has decided to seek fresh bids for LNG cargoes for the month of March.
The company did not issue any statement but the newspaper said that the decision was taken in light of a drop in global spot LNG prices.
CCOE opposes LNG supply guarantee
Insists imported gas supply should be based on competitive market mechanism
If the power producer fails to accept a minimum quantity of re-gasified LNG as per terms of the agreement, it will be liable to pay the amount equivalent to the notified price. PHOTO: AFP
ISLAMABAD:
The Cabinet Committee on Energy (CCOE) has emphasised that in future the government should not guarantee any liquefied natural gas (LNG) supplies, which should be based on a competitive market mechanism.
So far, the government has guaranteed LNG supplies which has exposed state-run gas companies to financial risk.
Already, a foreign commodity trading company has filed a case against state-run Pakistan State Oil (PSO).
OGRA grants licences to two virtual pipeline firms
Private sector to introduce this concept through cryogenic bowzers
PHOTO: AFP
ISLAMABAD:
In a new development, Pakistan’s private sector is going to introduce an innovative concept of virtual pipelines through cryogenic bowzers.
Currently, Pakistan has two floating liquefied natural gas (LNG) terminals in Karachi with handling capacity of around 1.3 billion cubic feet per day (bcfd) of LNG.
With the new concept of virtual pipelines, the government will open up the LNG market for the private sector to ship gas through such pipelines. Under this project, the private sector will not have to lay pipelines for gas transport.
In this file photo, Texas-based Excelerate Energy’s ship is seen next to Exquisite. The former conducted the 100th ship-to-ship (STS) transfer of LNG at the Engro Elengy Terminal at Port Qasim.
ISLAMABAD: Overriding all objections from some private companies, the Oil & Gas Regulatory Authority (Ogra) on Tuesday granted marketing licences to Energas and Tabeer Energy for sale of regasified-liquefied natural gas (RLNG) to their customers.
The licences would be valid for 10 years, starting Jan 8, 2021. Both applicants are stated to have their own customers in the private sector and would arrange LNG imports without any liability to the government by utilising pipeline network of gas utilities. Initially, they plan to also utilise spare capacity of the LNG re-gasification terminals.