AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
Pakistan Stock Exchange
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

SNGPL Win Dispute from QATPL in London Court of International Arbitration

admin-augafbyadmin-augaf
August 5, 2022
inBusiness, Finance
Reading Time: 1 min read
0
SNPGL LOSES 19.4 BILLION RUPEES LEGAL BATTLE OF RLNG AGAINST NPPMCL IN LONDON COURT OF INTERNATIONAL ARBITRATION

SNPGL LOSES 19.4 BILLION RUPEES LEGAL BATTLE OF RLNG AGAINST NPPMCL IN LONDON COURT OF INTERNATIONAL ARBITRATION

Share on FacebookShare on TwitterWhatsapp

Lahore August 5 2022: Sui Northern Gas Pipeline Limited win dispute in London Court of International Arbitration regarding the non-offtake of the Take or Pay gas, according to company filing to the exchange.

A dispute between Quaid e Azam Thermal Power (Private) Limited (QATPL) and SNGPL regarding the non-offtake of the Take or Pay (contractual quantities) of RLNG by QATPL was pending in the London Court of International Arbitration (LClA).

The LCIA Arbitrator has now delivered its arbitral award in favour of SNGPL validating SNGPL claims against QATPL on account of failure to offtake the Take or Pay quantities by QATPL. The significant portion of the related litigation and arbitration costs are also held to be borne by QATPL. The Arbitrator has further held that SNGPL has rightfully en-cashed the Security deposits held by it and has directed the QATPL to replenish the same as per the contractual
requirements.

It is pertinent to mention that under the terms of the license granted to SNGPL by OGRA read with the decision of ECC and in line with the tariff regime in vogue, the arbitral award under discussion will not impact the profitability of the Company as the Revenues billed to QATPL have already been treated as an Operating Revenue.


Related Posts

No gas price increased for any sector says Minister of State for Petroleum

Government approves Rs 36 billion to SNGPL for setting payables of PSO,PPL

SNGPL to set up LPG Air Mix Plant in Gilgit for promoting tourism

SNGPL suspend gas supply to Agritech: PSX


Tags: SNGPL
admin-augaf

admin-augaf

Related Posts

Pakistan Synchronized 330 MW Indigenous Coal Power Plant with Grid
Business

Pakistan Commissioned Two Turbines of 4th 1240 MW RLNG Power Plant

August 6, 2022
Govt to abolish subsidy on petroleum products for stabilizing economy: Miftah
Business

Saved Country from Default says Pakistan’s Finance Minister

August 6, 2022
Berkshire Hathaway posts massive $43.8 billion loss
Business

Berkshire Hathaway posts massive $43.8 billion loss

August 6, 2022

Recent News

Pakistan Synchronized 330 MW Indigenous Coal Power Plant with Grid

Pakistan Commissioned Two Turbines of 4th 1240 MW RLNG Power Plant

August 6, 2022
Govt to abolish subsidy on petroleum products for stabilizing economy: Miftah

Saved Country from Default says Pakistan’s Finance Minister

August 6, 2022
Berkshire Hathaway posts massive $43.8 billion loss

Berkshire Hathaway posts massive $43.8 billion loss

August 6, 2022
Bangladesh Raised Fuel Prices by more than 50% before IMF Program

Bangladesh Raised Fuel Prices by more than 50% before IMF Program

August 6, 2022
Turkey’s changed its official name to ‘Türkiye’

Turkish Banks Are Adopting Russian Payments System, Erdogan Says

August 6, 2022

Popular News

  • Pak Suzuki Increased Car Prices Upto PKR 150,000

    Pak Suzuki Prices to go up by PKR 76,000 to PKR 81,000 If Mini Budget Get Parliament Nod

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Gains More Than 11 Rupee In Interbank As Country Met All IMF Conditions

    0 shares
    Share 0 Tweet 0
  • Pakistan raised PKR 792 billion at all time high rates, yields crossed 15% for the first time

    0 shares
    Share 0 Tweet 0
  • Pakistan Will Not Default On Its Payments Says JP Morgan

    0 shares
    Share 0 Tweet 0
  • Gold Prices To Increase More Than 17 thousand per Tola After Approval of Mini Budget

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • Pakistan Commissioned Two Turbines of 4th 1240 MW RLNG Power Plant
  • Saved Country from Default says Pakistan’s Finance Minister
  • Berkshire Hathaway posts massive $43.8 billion loss

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

Pakistan Synchronized 330 MW Indigenous Coal Power Plant with Grid

Pakistan Commissioned Two Turbines of 4th 1240 MW RLNG Power Plant

August 6, 2022
Govt to abolish subsidy on petroleum products for stabilizing economy: Miftah

Saved Country from Default says Pakistan’s Finance Minister

August 6, 2022
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.

ArabicEnglishItalianSpanishUrdu