OGRA raises LNG price by 5.59% for August

Aneela SiddiquiWeb Editor

03rd Aug, 2021. 02:05 pm
OGRA

ISLAMABAD: The Oil and Gas Regularity Authority (OGRA) has increased the price of imported LNG for the fifth consecutive month.

The Pakistan Muslim League-Nawaz (PML-N) has lately asked for an investigation into the high-cost LNG contracts. For the month of August, the regulator has approved a price hike for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) consumers.

According to a notice, the Oil and Gas Regularity Authority (OGRA) increased the provisional price of RLNG for both gas companies’ consumers, increasing the rates for SNGPL consumers by $0.692 per MMBtu, or 5.36 percent, and for SSGC consumers by $0.707 per MMBtu, or 5.59 percent.

After the increase, the price of RLNG went up from $12.9160 per MMBtu in July to $13.6080 in August for the consumers of the SNGPL. The price of RLNG for the consumers of SSGCL was also increased from $12.6386 in July to $13.3454 per MMBtu in August.

The government will import 12 cargos of LNG in August, six through Pakistan State Oil (PSO) and six through spot purchase by Pakistan LNG Ltd (PLL).

It’s worth noting that the regulator hiked the price of RLNG for both gas firms’ customers in July as well. It raised prices by $2.5834 per MMBtu, or 25 percent, for SNGPL consumers, and $2.5899 per MMBtu, or 25.76 percent, for SSGC consumers.

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