LNG Prices Down by 7.8% in January 2024
The Oil and Gas Regulatory Authority (OGRA) notified a reduction in LNG prices for January 2024 up to 7.81%.
This does not include GST, for customers. This change applies retroactively from January 1, 2024, and is due to a drop in the DES price.
Per the OGRA’s notification, prices for consumers of the Sui Southern Gas Company Limited (SSGCL) have decreased by 7.81% compared to December 2023. PLL Secures Second LNG Cargo from SOCAR
The RLNG rate has been reduced by $1.2074 per MMBtu, from $15.4524 per MMBtu in the previous month to $14.2451 per MMBtu.
Similarly, for consumers of the Sui Northern Gas Pipeline Limited (SNGPL), the RLNG rate has been reduced by 7.58% or $1.1220 per MMBtu, from $14.8118 to $13.6898 per MMBtu.
The average price calculation is based on 12 RLNG cargoes, comprising ten cargoes priced at 13.37% and 10.20% of Brent under long-term agreements, and two cargoes priced at 12.14% of Brent acquired on a spot purchase basis.
The Unaccounted for Gas (UfG) has been temporarily factored in at 0.12% for transmission and 14.36% for transmission and distribution for SSGC, and at 0.38% and 8.23% for transmission and distribution, respectively, for SNGPL.
In line with the federal government’s policy guidelines, the authority has determined these revised RLNG prices for the Sui companies.
