ECC may allow WAPDA to float Eurobonds
Bonds will help raise $500m for financing Mohmand, Diamer-Bhasha dam projects
ISLAMABAD:
The Economic Coordination Committee (ECC) is set to allow the Water and Power Development Authority (Wapda) to float Eurobonds in the global market for raising $500 million to meet foreign financing needs for Mohmand and Diamer-Bhasha dam projects.
Sources told The Express Tribune that the Ministry of Water Resources had tabled a summary before the ECC, seeking approval to allow Wapda to issue Eurobonds.
Official sources said that Wapda needed a total of $2.1 billion in foreign financing. Initially, Wapda plans to issue Eurobonds to generate $500 million to meet the foreign funding component under the innovative financing strategy. This is the first time Wapda is going to float bonds without seeking any government guarantee.
SNGPL reduces UFG losses
December 23, 2020
LAHORE: The Sui Northern Gas Pipelines Limited (SNGPL), has been able to significantly reduce the percentage of unaccounted for gas (UFG) and volumetric losses of the company, a spokesperson for the gas utility said on Tuesday.
The company has reduced the volumetric losses by 3,285MMCF and percentage UFG by 2.38 percent from July 20, 2020, up to October 2020 against the targets of the three-year UFG reduction plan approved by the Economic Coordination Committee (ECC) of the Cabinet.
This reduction in gas losses has resulted in financial savings of Rs1,572 million. One of the major achievements of SNGPL is the 43 percent reduction in average monthly gas losses in high UFG areas from 1,424MMCF to 810MMCF as of October 2020 with the help of the law-enforcement agencies, the spokesperson said.
Pakistan Issues Tenders for Import of Three LNG Cargoes
The state-owned liquefied natural gas (LNG) importer, Pakistan LNG Limited (PLL), has issued tenders for the import of three LNG cargoes of 140,000 cubic meters each, for March 2021, amidst increasing demand for energy caused by the winter season.
PLL floated a tender to import LNG cargoes of 420,000 cubic meters through an advertisement, saying that the country is seeking this LNG to be delivered in three delivery windows, on March 9-10, March 16-17, and March 22-23 on a delivered ex-ship basis. The deadline to submit bids for the tender is January 15.
The petroleum division has informed that the city loads have already increased by more than 9 percent in Sui Northern Gas Pipelines Limited (SNGPL) due to a severe cold wave. Sui Southern Gas Company (SSGC) also faces a similar situation in Karachi and Quetta.
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December 22, 2020
ISLAMABAD: The country is facing severe gas shortage currently, and the crisis is likely to worsen in the next month January, which will adversely affect all sectors including domestic, power and industrial.
This was stated by the host of Geo News programme ‘Aaj Shahzeb Khanzada Kay Sath’ as well as the participants in the programme. Shahzeb Khanzada said the gas crisis had been getting worst, and in January it would intensify further. He said in his analysis that the government was well aware of the gas crisis during the winter, but the decisions were not taken timely, neither new LNG terminals were set up nor work on pipeline was launched on time. He said delay in opening tender caused the country on multiple fronts as the gas got expensive and could not adequately be provided to meet the needs of the month of January that may trigger certain gas crisis.