The Oil and Gas Regulatory Authority (OGRA) has reduced the price of liquefied natural gas (LNG) by up to $1.21 per Million British Thermal Unit (MMBTU) for the month of January 2024.
On Thursday, OGRA) notified a modest decrease in the weighted average sale price of Re-gasified Liquefied Natural Gas (RLNG) up to 7.81 per cent for end consumers with retrospective effect from January 1, 2024.Â
The decrease in RLNG prices is due to a decrease in DES price, said OGRA.
According to the OGRA’s notification, the price for the Sui Southern Gas Company Limited (SSGCL)’s consumers has been reduced by 7.81 per cent as compared with December 2023. Â
The rate of RLNG has slashed by $1.2074 per mmbtu to $14.2451 per mmbtu from $15.4524 per mmbtu last month.Â
The rate of RLNG for Sui Northern Gas Pipeline Limited (SNGPL) consumers has also reduced by 7.58 per cent or $1.1220 per from $14.8118 to $13.6898 per mmbtu.
The average price has been worked out at 12 RLNG cargoes. Ten cargoes at 13.37 per cent and 10.20 per cent to Brent arrived under long-term agreements and two 12.14 per cent to Brent at spot perchance.
Unaccounted for Gas (UfG) has been incorporated on provisional basis at 0.12 per cent in respect of transmission and 14.36 per cent in respect of transmission and distribution for SSGC and 0.38 per cent and 8.23 per cent in respect of transmission and distribution for SNGPL.
The OGRA, in a statement issued on Thursday, said that the Oil and Gas Regulatory Authority (OGRA) in accordance with the Policy Guidelines of the Federal Government has determined the Re-gasified Liquified Natural Gas (RLNG) prices for sui companies with effective from January 1st, 2024. And, the decrease in RLNG prices is due to decrease in DES (delivery ex-ship) price, said OGRA.
It is pertinent to mention that the country is to import 12 cargos during January 2024 compared with 11 cargos in December 2023 and 10 cargos in January 2023.
