The Oil and Gas Regulatory Authority (OGRA) has announced the reduction of prices of Liquefied Natural Gas (LNG) on Friday; a notification has also been issued in this regard.
What are the new LNG prices in Pakistan?
OGRA has announced up to a 27.71 per cent reduction in LNG prices. The LNG price has been reduced by 6.95 dollars per MMBtu.
For Sui Southern, the LNG price has been reduced by 6.95 dollars per MMBtu. For Sui Southern, the new price of LNG has been set at 18.13 dollars per MMBtu.
And for Sui Northern, the LNG price has been reduced by 25.84 dollars per MMBtu. Additionally, for Sui Northern, the new price of LNG has been set at 19.03 dollars per MMBtu.
Before this, the price of LNG for Sui Southern was 25.08 dollars per MMBtu.
OGRA raises RLNG prices by 32%
Consumers may face another rise in energy costs after the OGRA increased regasified liquefied natural gas (RLNG) prices to a record high for August, according to recent reports.
OGRA raised RLNG prices by around 32 per cent for August. The new price had been set at 25.83 dollars per mmBtu for Sui Northern Gas Pipelines Limited (SNGPL).
Additionally, it had been set at 25.09 dollars per mmBtu for Sui Southern Gas Company Limited (SSGCL). The rate was around Rs7,204 per mmBtu.
The increase came after a 15 per cent rise in July. RLNG prices have now gone up by nearly 148 per cent since February. At that time, the price was 10.45 dollars per mmBtu.
The increase came after Pakistan bought five LNG cargoes from the spot market. The country could not receive some shipments from Qatar due to supply problems linked to the US-Iran conflict.
The higher RLNG prices are expected to increase the cost of electricity generation.
The effect has already been seen in power generation costs. Fuel costs for RLNG-based power rose to Rs31 per unit in May from Rs13.72 per unit in April.
OGRA also increased LPG prices by 5.4 per cent for August. The new LPG price is Rs254.32 per kilogram compared to Rs241.43 per kilogram in July.
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