Tag: Lng

  Board of Investment Chairman Dr Miftah Ismail has said two Liquefied Natural Gas terminals are being set up in the country and gas from...

PM promises to transform national flag carrier into world-class airline, says PIA will be brought at par with Qatar Airways Sharif invites Qatari businessmen to...

The National Electric Power Regulatory Authority (NEPRA) has decided to withdraw its upfront tariff for LNG based power plants announced on April 3, 2015 after analysing the engineering, procurement and construction contracts of the LNG based power projects undertaken in Punjab by the federal and provincial government. The available information has revealed that the three LNG power projects in Punjab have different capacities with different engineering procurement and construction (EPC) and Long Term Service Agreement (LTSA) costs. Additionally, all three projects have been guaranteed different thermal efficiencies ranging from 61.59 per cent to 62.45 per cent. The analysis clearly indicates that the evidence provided by the Pakistan Private Power and Infrastructure Board (PPIB) and the underlying assumptions on which upfront tariff was determined has materially changed which renders the existing upfront tariff redundant. Therefore NEPRA has decided to withdraw its upfront tariff determination and intimated to the federal government for notification in the official gazette. NEPRA had approved upfront tariff for LNG power plants envisaging minimum procedural processes to save time in determining tariff and reviewing it to facilitate the investors in carrying out their due diligence regarding financial viability and acceptability of the tariff. However, the upfront tariff was subject to review at the time of the commercial operation on the basis of foreign exchange rate, customs duties and other charges and insurance cost to a maximum of seven per cent. The tariff promises 15 per cent internal rate of return (IRR) on equity to investors. The regulator had set an upfront tariff of Rs 11.2 per unit (kWh) for first 10 years for locally funded 225 MW projects and Rs 9.4 per unit for next 20 years, with a 30-year levelised tariff of Rs 10.55 per unit. For the same capacity project with foreign financing, the first 10-year tariff was set at Rs 10.6 per unit and Rs 9.377 per unit for the next 20 years, levelising at Rs 10.2 per unit over 30 years. NEPRA had assumed LNG price at $12 per million British thermal units (mmbtu) while calculating the upfront tariff. An official source said the National Power Parks Management Company Limited, wholly owned by the federal government, and the Quaid-e-Azam Thermal Power Limited, wholly owned by the Punjab government were reluctant to share the details with NEPRA. They submitted details after a lapse of four months from the date of conducting the competitive bidding. The QATPPL provided the information regarding EPC contract, LTSA, request for proposal and technical and financial bids, whereas the NPPMCPL provided information regarding EPC contract, LTSA, and technical and financial bids. However, the detailed bid evaluation reports as directed by NEPRA have yet to be received.

Qatar Gas' initial offer was $6.56 per mmbtu which was brought down by govt after negotiations Qatar Gas to pay $320,000 per LNG shipment while...

  Federal minister for petroleum and natural resources Shaihd Khaqan Abbasi said on Monday that Liquefied Natural Gas (LNG) would be imported from Qatar at...

Sends report of Petroleum Ministry’s briefing on Qatar LNG deal to NAB chairman Reports declares mode of deal transparent, expresses satisfaction over LNG rates The National...

  The National Assembly was informed on Wednesday that the ultimate deal had not been finalised with Qatar for import of LNG. The Lower House of...

Committee authorises PSO to execute agreement with Qatari authorities Sindh sugar mills may not qualify for sugar subsidy as ECC will offer federal subsidy on...

Abbasi says no proof of corruption found against former minister Says his ministry was never consulted before Asim’s arrest Federal Minister for Petroleum and Natural Resources...

NA told long term agreement signed with Qatar for import of LNG The National Assembly was informed on Wednesday that Prime Minister Nawaz Sharif would...

  Liquefied Petroleum Gas (LPG) Distributors Association on Tuesday urged the government to take measures for provision of gas at affordable prices to consumers who...

  Australian High Commissioner to Pakistan, Ms. Margaret Adamson has offered Pakistan to buy liquefied natural gas (LNG) from her county to manage the demand...

Interview with Engro Vopak Terminal and Elengy Terminal CEO Syed Mohammad Ali The federal government is considering converting its inoperative electricity generation plants running on...

775,000 gas connections provided in two years, Senate told Opp stages walkout for ignoring it in LNG deal with Qatar The Senate was informed on Tuesday...

  Iran has signed preliminary agreements with Korean, German and Chinese shipbuilders to construct high-tech liquefied natural gas tankers as the country pushes to join...

The Oil and Gas Regulatory Authority (OGRA) suggested raising the prices of petrol, diesel and high octane blending component and kerosene on Thursday. The move,...

Newly-appointed managing director of Sui Northern Gas Pipelines Limited (SNGPL), Uzma Adil has reportedly refused to endorse the Liquefied Natural Gas (LNG) deal that...