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OGRA increases the price of LNG by 5.59% for August

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Liquefied Natural Gas (LNG)
OGRA increases the price of LNG by 5.59% for August — File/Photo Newsline.pk

ISLAMABAD: For the sixth month in a row, the Oil and Gas Regularity Authority (OGRA) has raised the price of LNG.

The Pakistan Muslim League-Nawaz (PML-N) has recently requested that a probe into the high-cost LNG contracts be conducted. The regulator has approved a pricing increase for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) customers for the month of August.

The Oil and Gas Regularity Authority (OGRA) hiked the initial price of RLNG for both gas companies’ customers, boosting rates for SNGPL customers by $0.692 per MMBtu, or 5.36 percent, and rates for SSGC customers by $0.707 per MMBtu, or 5.59 percent, according to a notice.

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Following the hike, the price of RLNG for SNGPL customers increased from $12.9160 per MMBtu in July to $13.6080 in August. The price of RLNG for SSGCL customers was also raised in August, from $12.6386 per MMBtu in July to $13.3454 per MMBtu in August.

In August, the government would import 12 cargos of LNG, six via Pakistan State Oil (PSO) and six via spot purchase by Pakistan LNG Ltd. (PLL).

It’s also worth mentioning that the regulator raised the price of RLNG for both gas companies’ customers in July. It raised the prices by $2.5834 per MMBtu, or 25%, for SNGPL customers and $2.5899 per MMBtu, or 25%, for SSGC customers.

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