Gas Based Economy
The Government of India seeks to increase the share of natural gas in India’s commercial energy basket from 6.3 percent in 2019 to 15 percent by 2030 to make India a ‘gas-based economy’. To reach the target of 15 percent, annual growth in consumption of natural gas has to increase from less than 5 percent in the last decade (less than 3 percent in 2019) to well over 10 percent in the next decade. India’s natural gas consumption in 2019-20 was about 175 mmscmd. To increase consumption to 600 mmscmd by 2030, the annual growth rate in consumption has to be more than 13 percent. This is not an impossible target. In the period 2008-2018, natural gas consumption in China grew by over 13 percent. Behind this double-digit growth rate for natural gas consumption in China was an annual average economic growth rate of over 8 percent, regulatory reform for transparency and flexibility along with focussed policy mandates.
The government has sought urgent tenders for liquefied natural gas (LNG) deliveries in third and fourth week of February. Reuters/File
ISLAMABAD: The government has sought urgent tenders for liquefied natural gas (LNG) deliveries in third and fourth week of February to fill the gap arising out of a default by Emirates National Oil Company (ENOC) on its supply commitment.
A senior official at the Ministry of Energy (Petroleum Division) confirmed that two cargoes had been sought from the international market using emergency provisions of the procurement rules. He said Pakistan LNG Limited (PLL) the state-run entity responsible for import of LNG had approached prospective suppliers for LNG delivery on Feb 15-16 and Feb 23-24.
LNG crisis likely to worsen in country
Dealers who declined to supply gas include state-run entities and major international LNG traders
LNG PHOTO: FILE
ISLAMABAD:
The liquefied natural gas (LNG) suppliers have refused to give supplies to Pakistan for the month of February in the wake of recent massive hike in the prices of gas.
According to details, Pakistan LNG Ltd (PLL) had advertised a tender on November 28, 2020 for the procurement of two spot LNG cargoes to be delivered in February 2021.
On December 28, 2020 the bids were opened and the results were announced, and in accordance with the Public Procurement Regulatory Authority (PPRA) rules, the award intimation was made 10 days later on January 7, 2021.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Important Notice Regarding Oceanus LLC and Its Subsidiaries
December 18, 2020 GMT
NEW YORK, Dec. 18, 2020 /PRNewswire/ Oceanus LLC (“Oceanus”) announced today that, by resolution of its Board of Managers on 3 December 2020, Mr. Peter Schoels, a member of Oceanus’s Board of Managers, now serves as the sole person authorized to act on behalf of Oceanus and its direct and indirect subsidiaries (collectively, the “Company”). Previously, Wise Investments Consultants Inc., in its capacity as Oceanus’s investment advisor (“Wise”), and Mr. Christos Economou, in his capacity as an officer of TMS Cardiff Gas Ltd., the technical and commercial manager of Oceanus’s Vessels (as defined below), had authority to act on behalf of the Company for certain purposes. Wise and Mr. Economou no longer have such authority or any other authority as it relates to the Company.