Oil and Gas Regulatory Authority (OGRA) has granted licences to, Tabeer and Energas, two private sector companies for procurement and sale of Liquefied Natural Gas (LNG) in Pakistan. The license is valid for ten years.
As per the statement from OGRA, the licences are subject to fulfillment of execution of GTAs (Gas Transportation Agreements) with Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) service agreements for metering / billing to the consumers and safety issues, LNG supply agreements, besides signing of contracts with LNG terminal operators.
OGRA Statement further reads, “In case, the licensees could not comply with the covenant, and failed to start operation within one year of issuance of the licences, the licences granted shall stand canceled/revoked forthwith.”
Tabeer Energy Marketing (Pvt.) Limited is local subsidiary of Mitsubishi Corporation, while Energas Marketing (Pvt.) Limited (EMPL), an associated concern of Energas Terminal Private Limited. Both the companies applied for license back in April-2020.
The initiative to allow private sector to procure energy commodities is part of the government’s plan to improve ease-of-doing business and encourage maximum participation of private sector players in the energy field and create a healthy competition among public and private sector companies.
Latest posts by News Desk (see all)
- FBR asked to enhance efforts for Broadening Tax Net - May 27, 2023
- National Savings Rate for June-2023 - May 27, 2023
- Islamabad to get a new “Luxury Resort” - May 27, 2023
