IRAN-PAKISTAN GAS PIPELINE
NGA wrote, Pakistan is currently negotiating amendments in the gas deal it has with Iran, according to Daily Times, a local newspaper.
"A draft amendment has been shared with Iran, and it has agreed to negotiate the same along with some other amendments in the Gas Sale Purchase Agreement (GSPA)," an official told the newspaper.
Pakistan expects a renegotiated deal will help in facilitating the implementation of the already-delayed Iran-Pakistan (IP) gas pipeline project. The current agreement was signed in 2009.
It was also said that the revised timeline for completion of the project would be decided mutually in the forthcoming meetings between the two countries, Daily Times reported.
Iran has already built 900 km length of the pipeline on its territory while Pakistan still has to start work on the pipeline. Once the pipeline is operational, about 250 million cubic feet gas would be imported from Iran during first year, while in the second year the import of gas would be enhanced to 500 million cubic feet while in the third year 750 million cubic feet gas would be imported.
Iranian gas exports were to commence on January 1, 2015. Since, the project could not be completed Pakistani side proposed to extend the time for completion of the project.
The future of much delayed Iran-Pakistan (IP) gas pipeline remains uncertain as Pakistan has not been able to raise funds to complete the section of the pipeline would pass through its territory as the project still attracts some sanctions.
|July, 12, 10:55:00|
|July, 12, 10:45:00|
|July, 12, 10:40:00|
|July, 12, 10:35:00|
|July, 12, 10:30:00|
|July, 12, 10:25:00|
BLOOMBERG - Treasury Secretary Steven Mnuchin told a Texas judge that Exxon Mobil Corp. doesn’t have a right to see privileged documents related to a $2 million fine assessed against the energy company for violating sanctions related to Russia’s 2014 invasion of Ukraine.
NPD - Preliminary production figures for June 2018 show an average daily production of 1 747 000 barrels of oil, NGL and condensate, which is an increase of 88 000 barrels per day compared to May.
NOVATEK - In the first half 2018, NOVATEK’s hydrocarbons production totaled 264.3 million barrels of oil equivalent (boe), including 32.93 billion cubic meters (bcm) of natural gas and 5,864 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 6.3 million boe, or by 2.4%, as compared to the first half 2017.
REUTERS - Brent crude futures LCOc1 were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77.60. U.S. crude CLc1 was down 55 cents, or 0.7 percent, at $73.56.