The Cabinet Committee on Energy on Monday constituted a subcommittee to examine in detail the availability of pipeline capacity. Reuters/File
ISLAMABAD: Amid growing number of suppliers competing for pipeline and terminal capacity, the Cabinet Committee on Energy (CCoE) on Monday constituted a subcommittee to examine in detail the availability of pipeline capacity and how to allocate it for transportation of re-gasified liquefied natural gas (RLNG).
Informed sources said the CCoE met briefly under the chairmanship of Minister for Planning and Development Asad Umar as some of the relevant stakeholders were based in Karachi and appeared to be unable to optimally contribute through video conference.
Pakistan Receives One of The Costliest Bids Ever for February’s LNG Procurement
Pakistan received bids from five liquefied natural gas (LNG) companies for two cargoes in February 2021, at the highest price as yet.
Pakistan LNG Limited (PLL) received these all-time highest bids up to 32.48 percent of Brent. The lowest bids for the delivery windows of February 2021 were nearly at 21 percent to 23 percent of Brent, as received by the PLL.
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However, as a result of this delay in the process by the government, Pakistan has to purchase the costliest liquefied natural gas (LNG) in February 2021, at 32.48 percent of Brent, with a 31-day gap between tender opening and advertisement.
Sindh Chief Minister Syed Murad Ali Shah (left) demanded that Prime Minister Imran Khan direct the petroleum division of the federal energy ministry to immediately allocate at least 1,500 to 1,600 MMCFD (million cubic feet a day) gas to the province. Photos DawnNewsTV/File
KARACHI: Fearing a serious crisis in near future and untoward situation in the province, especially in Karachi due to the persistent gas shortage, Sindh Chief Minister Syed Murad Ali Shah on Monday demanded that Prime Minister Imran Khan direct the petroleum division of the federal energy ministry to immediately allocate at least 1,500 to 1,600 MMCFD (million cubic feet a day) gas to the province.
ECC approves issuance of $500 mln Eurobonds to finance Diamer Basha, Mohmand dams
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The ECC approved amendments in the Master Plan for establishing five terminals
ISLAMABAD (Dunya News) – The Economic Coordination Committee (ECC) of the Federal Cabinet Thursday approved the Ministry of Water Resources’ proposal in principle for the issuance of WAPDA’s debut $500 million Eurobonds to arrange finances for Diamer Basha and Mohmand dams.
The ECC, which met with Federal Minister for Finance and Revenue Dr Abdul Hafeez Sheikh in the chair, directed for working out modalities for the issuance of the bonds in consultation with the Finance Division and the State Bank of Pakistan (SBP), according to a Finance Ministry press release.
ECC Allows WAPDA to Issue $500 Million Eurobonds
Federal Minister for Finance and Revenue, Dr. Abdul Hafeez Sheikh, chaired the meeting of the Economic Coordination Committee (ECC) today.
Ministry of Water Resources presented a summary for the issuance of Water and Power Development Authority’s (WAPDA) debut $500 million Eurobonds to arrange finances for Diamer Basha and Mohmand Dams.
The ECC approved the issuance of $500 million Eurobonds and directed the Minister of Water Resources to work out the modalities in consultation with the Finance Division and the State Bank of Pakistan (SBP).
Ministry of Planning, Development, and Special Initiatives presented a detailed presentation on Karachi Transformation Plan (KTP) before ECC. The forum discussed the plan thoroughly and endorsed, in principle, with the direction to secure approval from all relevant quarters before submission to Cabinet. The Chair directed to follow all codal formalities regarding various components of KTP.