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Pakistan Times Today

Results for “Natural gas” (21)

Syeda Mubeena Hashmi Posted in Automobile

Pakistan seeks fresh LNG cargo after tender setbacks

Pakistan Liquefied Natural Gas Limited has invited international companies to bid for an LNG cargo scheduled for delivery from September 12 to 16, following two cancelled tenders. Bids must be submitted and will be opened on September 8. The move comes after Pakistan recently secured a record-priced spot LNG cargo at $21.88 per MMBtu. Earlier purchases for July were also made at progressively higher rates, reflecting volatile international LNG prices. Read More…

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Syeda Mubeena Hashmi Posted in World

EU Gas Outlook Remains Stable Ahead of Winter

European Commission spokesperson Eva Hrncirova said there is no immediate concern over natural gas supplies in the European Union, with storage facilities currently at 62% capacity, Al Jazeera reported. However, EU countries are facing difficulties replenishing reserves ahead of winter. Persistently high gas prices following the US-Israeli war on Iran have discouraged companies from purchasing additional supplies. Despite current storage levels providing some reassurance, authorities continue to monitor market conditions and efforts to secure adequate gas supplies before the colder months. Read More…

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Hafsa Mustafa Posted in Business

Govt issues emergency LNG tender after 'Qatari shipment aborted'

The federal government has issued an emergency tender to procure a liquefied natural gas (LNG) cargo for delivery on July 15-16 after a Qatari shipment bound for Pakistan was aborted mid-journey due to fresh hostilities in the Strait of Hormuz, Bloomberg reported. State-owned Pakistan LNG issued the emergency tender after the government approved it on Wednesday, following the cancellation of a Qatari cargo scheduled for delivery this month, Bloomberg reported citing traders familiar with the matter. Read More…

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Hafsa Mustafa Posted in World

Azerbaijan says ready to supply LNG as Pakistan faces shortages amid Mideast conflict

Azerbaijan’s state energy company Socar is ready to supply liquefied natural gas (LNG) to Pakistan as soon as it receives a request from Islamabad, the company told Reuters on Tuesday, as Islamabad seeks spot cargoes to ease a growing energy shortfall. Socar said a framework agreement signed in 2025 between Socar Trading and Pakistan LNG Limited (PLL) allows the Pakistani buyer to purchase LNG cargoes directly under an accelerated procedure. Read More…

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Hafsa Mustafa Posted in Business

Israel signs $35 billion natural gas supply deal with Egypt

Israel’s Leviathan natural gas field has signed the largest export agreement in the country’s history, worth up to $35 billion to supply gas to Egypt, NewMed, one of the partners in the field has said. The deal should ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its own supplies fell short of demand. Egypt’s production began declining in 2022, it has increasingly turned to Israel to make up the shortfall. Exports from the gas field were halted during a 12-day… Read More…

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Hafsa Mustafa Posted in Business

Govt raises sales tax on CNG supply

The federal government has raised the sales tax on compressed natural gas (CNG) supply from Rs 140 to Rs 200 per kilogram (KG). A notification regarding the development has been issued with the increase in sales tax value for Region One and Region Two. As per the notification, the sales tax value in Region One will rise from Rs 140 to Rs 200 per kg, with similar adjustments made in Region Two, where the sales tax value increases from Rs 135 to Rs 200 per kg. Read More…

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Hafsa Mustafa Posted in World

Oil and gas should not be demonized: Elon Musk

It is important to reduce carbon emissions to preserve the planet, but oil and natural gas should not be demonized in the medium-term, Elon Musk, the founder of electric car maker Tesla, said on Saturday. Earlier this week representatives from nearly 200 countries agreed at the COP28 climate summit to begin reducing global consumption of fossil fuels to avert the worst of climate change, signalling the eventual end of the oil age. Read More…

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Hafsa Mustafa Posted in Business

Pakistan secures LNG shipment for January delivery

Pakistan has purchased a liquefied natural gas shipment for January delivery to address fuel deficit this winter, Bloomberg has reported. Pakistan LNG Limited (PLL) has awarded tender to Oman’s OQ Trading for a spot LNG cargo to be delivered in January. State-run PLL has secured the shipment at a price premium to the spot market due in part to Pakistan’s credit risk, sources said. Read More…

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Hafsa Mustafa Posted in Politics

Govt increases LNG prices

The Oil and Gas Regulatory Authority (OGRA) on Friday notified increase in the prices of liquefied natural gas (LNG). According to a notification, OGRA increased the prices of imported re-gasified liquefied natural gas (LNG) for both gas companies, Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) for the rest of October. Read More…

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Hafsa Mustafa Posted in Business

Shell, QatarEnergy agree on 27-year LNG supply

Qatar has further expanded its long-term gas supply to Europe, reaching a supply deal with the Netherlands to provide 3.5 million metric tons of liquefied natural gas (LNG) a year for 27 years. Two LNG sale and purchase agreements were signed between affiliates of QatarEnergy and Shell, QatarEnergy said on Wednesday, in a deal that mirrors one reached with TotalEnergies last week. Read More…

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