SSGC Board of Directors should retain FSRU Sequoia today

ISLAMABAD: The crucial meeting of the Board of Directors of Sui Southern Gas Company Limited (SSGCL), scheduled for today (Wednesday), will finally decide whether it will retain the new FSRU (Floating Storage Regasification Unit), Sequoia at the Engro LNG terminal or not.

There is a good chance that the SSGC board of directors will decide to keep the FSRU, as the federal government wishes to use the excess capacity of said FSRU. Prime Minister Imran Khan and senior management from Engro and the US company Excelerate Energy are in touch on the matter. The chief executive of Sui Southern has been asked to sign the agreement to keep the FSRU, senior officials told The News late Tuesday night. The legal and commercial teams of SSGC, Engro and the American company Excelerate, owner of the Sequoia and Exquisite FSRUs, are actively engaged in back-to-back meetings over the past two to three days to finalize certain amendments required in the LSA. (LNG Services Agreement) between SSGC and Engro. Likewise, Engro and the American company are also in talks.

Previously, the American company Excelerates Energy had refused to extend its deadline of August 31 for a few weeks for the government to make the final decision, but given the progress of the talks between the legal teams of SSGCL, Engro and Excelerate Energy, the The deadline has been extended by a few days and to this end, the SSGC Board of Directors will take the final decision today (Wednesday).

Key sources from the petroleum division said that SSGC’s board of directors will decide, based on input from the legal and business teams of SSGC and Engro Elengy Terminal Private Limited (EETPL), taking into account management from the federal government. However, the sources said the board will also keep the NAB’s response that is still pending in mind. Many SSGC officials, including former CEOs, are facing cases of NAB regarding the Engro LNG terminal and the increase in regasification from 400 to 600 mmcfd.

However, sources at SSGC, Engro and Excelerate Energy are bullish, saying the talks are heading in a positive direction. All stakeholders are making sincere efforts to secure the country’s spare excess capacity in order to alleviate gas shortages, while safeguarding the common interest and commercial and legal obligations.

Insiders said the petroleum division a few days ago sent a letter to NAB requesting a green signal for the use of excess capacity of 330mmcfd from the two existing FSRUs operational at the LNG terminals of Engro and PGPCL. .

The NAB responded with a few questions in response to the Petroleum Division letter. The SSGC and the ministry responded to questions posed by the anti-graft body. The sources said that for the NAB, the answers fall short. However, the PTI government wishes to use the excess capacity available in the two LNG terminals to deal with the intensity of the gas shortage during the next winter season. Contacted, one of the directors of SSGC confirmed: in the agenda, there is no mention of the maintenance of FSRU Sequoia. He said maybe the government wanted to keep the matter a secret. However, there is an item on the agenda that relates to the KPMG study.

The petroleum secretary, when contacted, said the SSGC was supposed to make the decision because they agreed with Engro. The LSA allows the replacement FSRU, but it must be determined whether or not it is suitable for the SSGC. He said the economy is growing and the demand for gas is also on the rise. The two terminals have an additional capacity of 300 to 330 mmcfd and the government wants to use it without any sovereign guarantees at affordable prices. He said that for the worst-case scenario, the government has also prepared to deal with the management of the gas load.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos