October 24, 2019

Pakistan Sets Sights on 2nd LNG Import Terminal

first_imgzoom Energy-hungry Pakistan is planning to meet its gas needs by commissioning a second liquefied natural gas (LNG) import terminal, Reuters reports citing an unnamed government official.As disclosed, the tender for the import terminal has already been launched and the bids are expected to be submitted by January 24.The LNG terminal would be located at the country’s Port Qasim and would include a floating storage and regasification unit (FSRU), along with the accompanying infrastructure such as a new jetty and pipeline.The terminal should be put in operation by the middle of 2017, the official claims.Pakistan’s first LNG terminal has already been placed in Port Qasim. The LNG terminal utilizes one of Excelerate’s existing 151,000 m3 FSRUs, the 2009-built Exquisite and was a fast-track LNG import solution built to alleviate the energy shortage facing the country.Pakistan is reported to be in the final stage of talks with Qatar regarding a sale and purchase agreement with Qatar for the import of LNG.World Maritime News Stafflast_img read more

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October 8, 2019

Metro acquires majority stake in readytocook meal service MissFresh

MONTREAL — Grocery store retailer Metro Inc. (TSX:MRU) has signed a deal to acquire a majority interest in ready-to-cook meal delivery service MissFresh Inc.Financial terms of the agreement were not immediately available.MissFresh was started in Montreal in 2015 by Marie-Eve Prevost, Bernard Prevost and Ritter Huang.Metro says MissFresh’s three co-founders will retain a 30 per cent stake and continue to take an active part in the company’s management.

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October 8, 2019

WatchLoblaws 25 gift card terms in breadprice fixing offer not misleading judge

TORONTO — An Ontario judge has ruled that it’s too early to determine the enforceability of Loblaw Companies Ltd.’s policy that consumers who receive a $25 gift card from the company waive their right to that sum in possible future settlement money from a bread price-fixing scheme class-action lawsuit.Ontario Superior Court of Justice Edward M. Morgan dismissed a motion challenging the terms of Loblaw’s gift card plan.The company announced Monday that registrants must agree to a release saying they discharge Loblaw, its parent company George Weston and others from relief to the extent of $25 in connection with their involvement in an alleged bread price-fixing arrangement from Jan. 1, 2002 to March 1, 2015.Loblaw sets restrictions on $25 gift card offer for its role in bread price-fixing scheme‘Unacceptable’: Loblaw, George Weston face backlash over response to bread price-fixing schemeMorgan said in his ruling that he’s not in a position to know what, if any, an eventual settlement will entail, so it’s too soon to declare the release enforceable or not.Loblaw spokesman Kevin Groh says the “ruling puts to rest the nonsensical claim by class-action lawyers that our $25 Loblaw Card is misleading and confusing,” when the company is trying to put money in affected consumers’ hands quickly.The law firm which brought the action in front of the court, Strosberg Sasso Sutts LLP, says the ruling is a victory for consumers as Loblaw will not be able to deduct the gift card value from any future settlement pay out “unless it demonstrates that it is fair to consumers as part of an overall resolution of their price-fixing claims.” read more

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