Last update: Fri, 12 Feb 2016 10am

Fuel and Energy: Pakistan


Prime Minister Nawaz Sharif on Thursday said Pakistan''s economy has witnessed a great economic turnaround and the progress and development was taking the country forward to a bright future at a fast pace. He was addressing the Pakistani community here during his two-day official visit to Qatar. Prime Minister Sharif shared details of his meetings with the Qatari leadership and said they particularly lauded the role of Pakistani community in the development and progress of Qatar.
The management board of Pakistan State Oil (PSO) has approved the state-run oil importer''s entry into and execution of LNG Sale Purchase Agreement (LSPA) with Qatar Liquefied Gas Company Limited2 (QG2). According to a stock filing, the multibillion dollars deal was signed between PSO and QG2 as, respectively, buyer and seller in Doha, Qatar. The 15-year long-term LSPA envisages PSO importing LNG from Qatar at relatively lower price of 13.37 percent of British Brent.
Prime Minister Nawaz Sharif on Thursday invited Qatari investors to explore investment opportunities in Pakistan with particular focus on energy related projects, infrastructure development, and consumer based industry. The Prime Minister was talking to Chief Executive Officer of Qatar Investment Authority (QIA) Sheikh Abdullah bin Muhammad Al-Thani, who along with his delegation called on him here.
The government of Pakistan has reiterated to support Global Cleantech Innovation Programme for Small and Medium Enterprises (SMEs) and Start-ups (GCIP) to create a competition and accelerate promotion of innovations in the area of clean technologies to effectively tackle the energy crisis. Shoaib Mir, Additional Secretary, Ministry of Climate Change (MoCC) said this while addressing an event titled "Celebrating Success" organised by the United Nations Industrial Development Organisation (UNIDO) here on Thursday.
The Pakistan Water and Power Development Authority (Wapda) spokesperson has clarified a news item titled "Tarbela extension: Wapda procuring no-approved equipment?" carried by Business Recorder on February 9. The spokesperson has said that all approved equipment is being procured for Tarbela 4th Extension Hydropower Project according to specifications laid down in the bidding documents after fulfilling the procedural requirements.
The upcoming Conference of Commissioners Withholding Zones would analyse performance of withholding agents particularly banks and power distribution companies (DISCOs) to improve collection from such agents in second half of 2015-16. It is learnt that the conference would now be held on February 15.
Pakistan said on Wednesday it had signed a 15-year agreement to import up to 3.75 million tonnes of liquefied natural gas a year from Qatar, a major step in filling Pakistan''s energy shortfall. The deal, Pakistan''s biggest, will help the country add about 2,000 megawatts of gas-fired power-generating capacity and improve production from fertiliser plants now hobbled by a lack of gas, a government official said.