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  • maq@maqint.com
December 2015

                                                                                                                                 

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December 2015

Newsletter

 

The MAQ International team would like to wish you, your family and your colleagues, happy holidays and all the best for Year 2016.

 

Company Profile

 

MAQ International has been providing equipment, services and solutions to the Energy, Power, and Oil & Gas industries for 25+ years. Our local industry experience, coupled with the expertise of our partners ensures service that is reliable, timely and efficient.

If you are interested in, or require further detail regarding any of the links below, do contact us.

 

Power

China-Pakistan ink $820m Thar coal agreement

       ·         Pakistan and China inked a $820-million financing agreement in Beijing, for both the mining and associated power plant project in Thar.

        ·         Sindh Engro Coal Mining Company (SECMC) and Engro Powergen Thar Limited (EPTL) signed the local and foreign financing agreements in China.

Bin Qasim power plant: PM orders completion of project by Dec 2017

        ·         Prime Minister inspected 1320MW coal fired Bin Qasim power project and asked Chinese authorities concerned to take steps to make the project completely functional by December 2017.

        ·         The project costing $1.5 billion would comprise 2 power houses; each of which would generate 660MW and would be connected to the power grid after completion.

Work starts on K-Electric’s $400 million project

       ·         Federal Water and Power Minister unveiled the plaque marking the start of work on a $400 million project, which will enable power lines in Karachi to handle another 30% of its existing capacity.

        ·         The project is part of K-Electric’s $2.2 billion investment plan, which seeks to add capacity across its vertically-integrated infrastructure – power plants, transmission lines, grid stations, switches and transformers.

Oil & Gas

Turkmenistan to invest $25bn to deliver 3.2bn BCFD gas

        ·         Turkmenistan will invest around $25 billion to deliver around 3.2 BCFD of gas, for 25 years, to three energy hungry countries – Afghanistan, Pakistan and India – from December.

       ·         Turkmenistan will also be responsible for around $10 billion investment required for 1,680 km pipeline of 56 inch diameter. Pakistan and India each would get 1.325BCFD of gas, while Afghan share has been set at 500MMCFD.

 

PPL announces country’s biggest gas discovery in 10 years.

       ·         Pakistan Petroleum Limited, state-owned company, struck the country’s biggest find of 56 million cubic feet per day (mmcfd) of gas in Matiari, Sindh.

        ·         PPL, which has a portfolio of 47 exploration blocks, has been aggressively searching for new hydrocarbon reserves for the last two years to compensate for the decrease in production from its established fields like SUI.

 

Long term LNG contracts better option

        ·         The LNG contract with Qatar has hit a formidable snag because 2 other business have offered rates lower than those agreed by the nine-member price negotiation committee if Government of Pakistan and Qatar.

        ·         Pakistan has been offered a 15-year contract by Qatargas at 13.9 percent of Brent oil price. However, Shell and Gunvor Oil have offered significantly lower prices – 3.8 percent and 13.39 percent of Brent oil, respectively – for LNG from Russia for 5 years.

 

All set to get hands on Shale Gas deposits

        ·         The project is being launched following a study conducted in cooperation with USAID, confirming availability of 10,159 trillion cubic feet Shale gas and 2,323 billion of stock tank barrels (BSTB) Shale oil in place resources, across the country.

        ·         Horizontal drilling and hydraulic fracturing technology which is used for shale gas exploration, is available in the country and already being used for conventional and tight gas reservoirs.

Renewables

NEPRA announces new Solar upfront tariff for next year (http://www.nepra.org.pk/tariff_upfront.htm)

         ·         NEPRA announced new upfront solar tariff of US 11.35 to11.53 cents/kWh for North (Punjab and KPK) and 10.72 to 10.89 cents/kWh for South (Sindh and Balochistan) for projects ranging between 1-100 MW.

       ·         NEPRA initiated proceedings for determination of new upfront tariff for solar power plants after declining solar PV prices.

 

Danish companies keen to invest in green energy projects in Pakistan

       ·         Pakistan has a huge potential for renewable energy and Denmark has long been a pioneer, especially in wind energy. The Danish companies are global leaders in green energy and energy efficiency.

       ·         Denmark has state-of-the-art technology in renewable energies, particularly in wind and Pakistan would get benefits from the experiences of the Danish in this regards.

 

Decrepit transmission lines major challenge to Wind power projects

       ·         Weak and obsolete electricity transmission system is a major challenge to the upcoming wind power projects across the wind corridor in district Thatta of Sindh.

       ·         Limited capacity of the transmission lines is becoming an obstacle in delivery of the fuller potential of wind power in the national grid particularly during the summer when power is needed the most.

 

Sapphire’s 52.8MW Wind power project achieves COD ahead of time

       ·         Sapphire Wind Power Company’s (SWPCL) 52.8 MW wind power plant has attained commercial operation (COD) in a record time of only 14 months.

      ·         Hydrochina, a Chinese EPC contractor using 33×1.6 MW GE wind turbines constructed the power plant.

 

Business & Others

Pakistan stocks jump post holiday break