US backs trans-Afghanistan natural gas pipeline

The US is believed to be opposed to energy-hungry India and Pakistan drawing supplies from Iran via a proposed $7 billion gas pipeline, which could come online by 2015. — File Photo

ASHGABAT: The United States says it supports a planned pipeline taking natural gas from Turkmenistan to India through volatile regions in Afghanistan and Pakistan.

US deputy Assistant Secretary of State Susan Elliott said Thursday that the pipeline could boost stability across the war-torn region. She spoke at n energy conference in the capital of this Central Asian country, Ashgabat.

OGDC profits surge

KARACHI: Oil and Gas Development Company (OGDC) has announced a net profit of Rs16.709 billion, translating into an earning per share (EPS) of Rs3.89 for the quarter ended on September 30 against a profit of Rs12.065 billion and an EPS of Rs2.81 during the corresponding quarter last year, a company statement said on Tuesday.

The net sales revenue of the company surged to Rs39.451 billion during the period under review from Rs31.825 billion last year.

Tacit FoDP, US support for Iran gas pipeline

US Special Representative for Afghanistan and Pakistan Richard Holbrooke talks with Pakistani Foreign Minister Shah Mahmood Qureshi. – Photo by AFP (File)

ISLAMABAD: The FoDP (Friends of Democratic Pakistan) has supported Pakistan’s plan to import natural gas from Iran to meet its increasing energy needs and the United States, which is an active component of the forum, is also reported to have tacitly agreed not to oppose the pipeline.

This was stated here on Sunday by official sources who cited a report prepared by a task force on Pakistan’s grim energy situation and steps needed to cope with the situation. The Pak-Iran gas pipeline featured prominently in the report, the sources said.

Russia shows interest in gas pipeline

Turkmenistan sits atop the world's fourth-biggest natural gas reserves and Russia, China and the West are vying to expand their presence there. – AFP Photo (File)

TURKMENBASHI CITY: Russia’s state-owned gas company Gazprom could take part in a project to build gas pipeline from Turkmenistan to Pakistan and India via Afghanistan, Russia’s Deputy Prime Minister Igor Sechin said on Friday.

Turkmenistan, holder of the world’s fourth-largest natural gas reserves, is keen to revive plans to build the TAPI (Turkmenistan-Afghanistan-Pakistan-India) pipeline. The project has been stalled by war in Afghanistan.

Russia shows interest in gas pipeline

Turkmenistan sits atop the world's fourth-biggest natural gas reserves and Russia, China and the West are vying to expand their presence there. – AFP Photo (File)

TURKMENBASHI CITY: Russia’s state-owned gas company Gazprom could take part in a project to build gas pipeline from Turkmenistan to Pakistan and India via Afghanistan, Russia’s Deputy Prime Minister Igor Sechin said on Friday.

Turkmenistan, holder of the world’s fourth-largest natural gas reserves, is keen to revive plans to build the TAPI (Turkmenistan-Afghanistan-Pakistan-India) pipeline. The project has been stalled by war in Afghanistan.

New gas supply plan lays stress on power plants

Gas supply to defaulters will not be restored while allocation of gas for captive power plants will be stopped till the completion of gas import plans. – File Photo

ISLAMABAD: The government is working on a plan to put in place a new gas supply mechanism envisaging diversion of maximum gas available in the system to the power sector without affecting the existing contracts.

Informed sources said that under the new gas allocation policy, priority would be given to the power sector to contain the rising electricity tariff. The cost of gas-based electricity generation is about 70 per cent less than that of the furnace oil-based generation.

$500mn OGDC convertible bond issue hits snags

ISLAMABAD: The Privatisation Commission’s plan to sell $500 million worth of OGDCL convertible bonds has hit snags at the outset following protests by three international financial institutions over alleged breach of their two-year old contracts for the transaction.
As if that was not enough, the ministry of finance has also raised objections over the move by Privatisation Minister Senator Waqar Ahmad to issue convertible bonds of Pakistan’s largest oil and gas producer – Oil and Gas Development Company Limited – in defiance of limits defined under the 1973 Rules of Business. It said issuance of bonds fell under the domain of finance ministry because it has to take the responsibility for the country’s all debts and liabilities.

Govt plans to auction 43 oil, gas blocks: official

KARACHI: The government has planned to auction 43 oil and gas exploration blocks in June 2010 in an attempt to mitigate the energy crises in the country, which has aggravated owing to the rising fuel prices, said an official of the Ministry of Petroleum and Natural Resources.

The auction includes five offshore blocks and the remaining blocks are located in all the four provinces of country - Punjab, Sindh, Balochistan and North West Frontier Province.

Iran, Turkmenistan launch new gas line

Turkmenistan to sell up to 20bcm of gas a year to Iran

Thursday, January 07, 2010
DOVLETABAD GAS FIELD, Turkmenistan: Turkmenistan, Central Asia’s largest gas producer, launched a new pipeline on Wednesday that will more than double its gas sales to Iran.

Together with a pipeline to China launched last month, the new link will enable Turkmenistan to ship more gas to Iran and China combined than to Russia’s Gazprom which has dominated the region’s market for decades.

LPG price raised by three rupees in Peshawar

PESHAWAR: Price of liquefied petroleum gas (LPG) was increased by Rs. 3 per kilogram in Peshawar on Wednesday.
 
Citing low supply of the product, dealers have fixed the new market price at Rs. 103 and warn it may increase further in coming months, according to a DawnNews report.

China pulls out of $40 billion Australia gas deal

SYDNEY: Chinese energy giant PetroChina Co. Ltd. has pulled out of a $40 billion deal to buy natural gas from a project off Australia, leaving Woodside Petroleum Ltd. looking for new customers.

OGDC output falls, fails to meet 2008-09 targets

Spokesman says company still making profit, decline in production, exploration activities due to security situation, litigations

Friday, January 01, 2010
By Aftab Maken

ISLAMABAD: The Oil and Gas Development Company (OGDC) failed to meet its production targets set in its business plan for 2008-09 due to lack of vision and the policy of granting millions of dollars worth of projects to hand-picked companies, officials of the company confided to The News.

OGDC likely to give up rights in two exploration areas

ISLAMABAD: Amid rising oil and gas shortage in the country, the state-owned Oil and Gas Development Company Limited (OGDCL) is likely to partially give up its exploration rights in two prospective oil and gas areas of Sindh and Balochistan under unusual circumstances, sources told Dawn on Friday.
 
The sources said the company would take a final decision at a meeting next week of its board of directors about giving up of Sari South exploration rights in Sindh and partial transfer of ownership and operatorship of the Zin block in Balochistan to a private company.

Gas supply under pressure

 











Commuters using vehicles fuelled by CNG in Islamabad and the surrounding areas are experiencing considerable inconvenience on account of the mandated weekly two-day gas holiday for CNG stations that began recently. 
 

Compressors arrive for Qadirpur gas field

ISLAMABAD: Six out of 14 compressors being imported by Oil and Gas Development Company Limited (OGDCL) to save the Qadirpur Gas Field from declining gas pressures have arrived at the Karachi Port and are expected to reach the site by end of this month, OGDC spokesman told Dawn on Saturday.
 
‘OGDCL will install 14 compressors as interim relief to maintain the declining pressures from the field,’ said Basharat A. Mirza, adding that the remaining compressors are expected to arrive early February next year.