Page 11 - AsiaElec Week 38 2022
P. 11
AsiaElec GAS GENERATION AsiaElec
Iran offers to complete gas
pipeline to Pakistan
PAKISTAN MOHAMMED Ali Hosseini, the Iranian discussions.
ambassador to Pakistan, said last week that Iran’s Hosseini went on to say that Iran could serve
government was prepared to complete a natural as a key supplier of gas to Pakistan and asserted
gas pipeline to neighbouring Pakistan as part of that there were no sanctions in place that might
a wider effort to expand ties in the energy sector. hinder shipments. Both Tehran and Islama-
“To further strengthen trade co-operation bad recognise the importance of the matter, he
with Pakistan, completion of energy projects, commented.
especially the Pak-Iran gas pipeline, remains Co-operation in the area of gas supplies could
vital,” he told the Associated Press of Pakistan open the door for expansion of trade in other
(APP) in an interview. The project is currently areas, he added. Iran and Pakistan have set the
being discussed by a technical committee, he goal of boosting the value of bilateral trade to
stated, without divulging the details of these $5bn per year, he noted.
Rio Tinto CEO says Oyu Tolgoi
copper mine offer is final
MONGOLIA CEO of Anglo-Australian mining giant Rio would be worth around $3.3bn.
Tinto has emphasised that the company’s offer “What individual shareholders want to
to take over Turquoise Hill Resources—invested achieve, I don’t know, but I feel pure at heart that
in one of the world’s largest copper mines, Oyu we’ve offered a very full price,” Stausholm said.
Tolgoi in Mongolia, in a deal with joint owner the “Fundamentally I believe we’ve offered the share-
Mongolian governent—was final. holders a choice.”
Speaking during an interview at Bloomberg Pentwater Capital Management two weeks
News headquarters in New York, Stausholm said ago argued Rio’s price offer undervalued Tur-
Rio has made a full offer to acquire full owner- quoise Hill. It said that was the case because
ship of Turquoise Hill Resources. It would, he there’s a high probability copper prices will be
added, not make any more offers, even if its offer higher than $4 a pound over the next decades,
was rejected by minority shareholders. There has given growing demand for the metal to power
been criticism from a top investor in Turquoise the energy transition. Pentwater last week
Hill, saying the offer undervalued the project. bought 2.5 million shares of Turquoise Hill, min-
Rio lately agreed to buy out the 49% stake in ing.com reported, bringing its stake to almost
Turquoise Hill it doesn’t already own. The deal 14%.
Week 38 21•September•2022 www. NEWSBASE .com P11
