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Oracle Power PLC - Cambridge-based natural resource and power project developer - Submits policy proposal for coal-to-gas, coal-to-liquid development with China National Coal Development Co in Pakistan to the Ministry of Energy Petroleum Division. Says the policy proposal outlines draft commercial framework through which development of coal-to-gas and liquid at Thar Block VI could be fast-tracked in order to address Pakistan's critical gas shortage and continued reliance on imported liquid fuels.
"The need for alternative sources of economically viable gas in Pakistan is clearly evident and the government has sanctioned the conversion of coal-to-gas with this in mind. With the on-going support of our consortium partners, including our technical partner and clean coal pioneer China National Coal Development, we expect to be the front-runner in this burgeoning industry and I look forward to providing further news on this dimension of development at Thar Block VI," says Chief Executive Naheed Memon.
Current stock price: 0.54 pence, up 3.6% on Tuesday
Year-to-date change: up 2.6%
By Zoe Wickens; zoewickens@alliancenews.com
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