Two Private Sector Companies Get Natural Gas / LNG Sale Licences
Faizan Hashmi Published January 12, 2021 | 08:38 PM
The Oil and Gas Regulatory Authority (OGRA) Tuesday granted licences to two private sector companies, Tabeer and Energas, for carrying out regulated activity of sale of natural gas and Liquefied Natural Gas (LNG) for an initial period of 10 years
ISLAMABAD, (UrduPoint / Pakistan Point News - 12th Jan, 2021 ) :The Oil and Gas Regulatory Authority (OGRA) Tuesday granted licences to two private sector companies, Tabeer and Energas, for carrying out regulated activity of sale of natural gas and Liquefied Natural Gas (LNG) for an initial period of 10 years.
According to separate notifications issued by the authority, the licences were subject to fulfillment of execution of GTAs (Gas Transportation Agreements) with Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL), service agreements for metering / billing to the consumers and safety issues, LNG supply agreements, besides signing of contracts with LNG terminal operators.
"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," it added.
Tabeer Energy Marketing (Pvt.) Limited (TEML), a subsidiary of Mitsubishi Corporation, had applied for the licence on April 17, 2020 and Energas Marketing (Pvt.) Limited (EMPL), a sister organization of Energas Terminal Private Limited, on April 16, 2020.
The authority has granted the permits after holding public hearings and fulfilling all legal and codal formalities.
This initiative is part of the Pakistan Tehreek-i-Insaf (PTI) government's ease-of-doing business plan, introduced to encourage maximum participation of private sector players in the energy field and create a healthy environment of competition among public and private sector companies.
Related Topics
Recent Stories
Tennis: ATP Barcelona Open results - 1st update
Swiatek's perfect 10 in Stuttgart as Vondrousova stuns Sabalenka
Arandu's roads closed due to flooding
Oil tanker catches fire in Islamabad’s Blue Area
Pakistan committed to ensure safety of foreign nationals: FO
Tennis: WTA Stuttgart results - 1st update
Four passengers injured as train hit an empty vehicle
Over- speeding bus crushed to death two bike riders
Turkey's Freedom Flotilla ready to set sail for Gaza
French teen dies from heart failure after knife attack near school
Iranians appear unfazed by Isfahan blasts
UAF celebrates Int'l Chinese Language Day
More Stories From Business
-
Pakistan aims to agree outline of new IMF loan in May - Finance Minister
9 hours ago -
FTO commends FBR's role for prompt resolution of tax payers’ issues
9 hours ago -
BISP embraces E-procurement: launches inaugural tender
11 hours ago -
Business community indebted to Ahsan Zafar for his unprecedented services: Yousuf Rajput
11 hours ago -
China auto sector steps up Europe push with Spain plant
11 hours ago -
Condolence reference held in memory of FBR's officials
13 hours ago
-
Health activists ring alarm bells over 10-stick cigarette pack
13 hours ago -
Karachi receives maiden direct flight of Azerbaijan Airlines from Baku
13 hours ago -
PSX turns bullish, gains 619 points
14 hours ago -
Rupee bounces back; gains 13 paisa against dollar
13 hours ago -
Partners join hands for alternate use of marble, granite slury
13 hours ago -
Tokyo's Nikkei index tumbles 3% in morning trade
16 hours ago