PAKISTANIAN LNG UP
NGW - Pakistan LNG Limited will open financial bids for the supply of 240 shipments of LNG on January 19, while contracts to successful bidders will be awarded on Jan 31. Supplies are supposed to start by middle of 2017 with a nominal cargo capacity set at 140,000 m³.
PLL issued two separate tenders for the supply of 200mn ft³/d of LNG and in response a total 14 global LNG suppliers submitted their bids to be completed on January 31. The company December 20 opened technical bidding of two tenders issued last month. The mid-term tender covers a period of five years and calls for 60 shipments, while the long-term tender is for 15 years and 180 shipments, entire process of awarding the contract to winning companies will be completed in March 2016.
The LNG will be imported through the floating terminal being built by Pakistan GasPort at Port Qasim. The terminal, with a capacity to handle 600mn ft³/d, is expected to be operational by June 2017. Pakistan LNG will soon issue fresh tenders for the supply of another 400mn ft³/d of LNG.
Pakistan is importing LNG from Qatar under long term deal signed last year. Gunvor is also supplying the fuel under a 60-ship contract. Total supply stands at 300mn ft³/d from Qatar and 100mn ft³/d from Gunvor.
The south Asian nation already has an operational FSRU at Port Qasim. The Pakistan GasPort FSRU will be the second one. A third contract was signed in December by Global Energy Infrastructure Limited (GEIL) with Hoegh LNG. Pakistan has had a severe shortage of energy for the domestic economy and the government has shifted focus to importing LNG to meet the deficit. State-owned and private firms signed long term deals with Qatar last year as the exporting country found demand from its long-term customers less than expected. Work on building sufficient import infrastructure is also been taken up.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.