LNG Price in August 2022 reduced by up to 2.9%
The Oil and Gas Regulatory Authority (OGRA) on Monday slashed the prices of imported re-gasified liquefied natural gas by up to 2.92 percent.
The regulator reduced the LNG Price for the consumers of Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipeline Limited (SNGPL).
As per the notification issued by the Oil and Gas Regulatory Authority (OGRA) for August, the Ogra has slashed the price of RLNG for Sui Northern Gas Pipeline Limited (SNGPL) by $0.5107 per Metric Million British Thermal Unit (MMBtu).
It reduced the price for the consumers at Sui Southern Gas Company Limited (SSGCL) network by $0.4792 per Metric Million British Thermal Unit (MMBtu).
The regulator decreased the weighted average gas sale price of imported RLNG by $0.5107/MMBtu or 2.92pc on the distribution network of SNGPL.
LNG Price in August 2022 compared to July Price
After the cut, the prices of LNG in August 2022 will go down to $16.9496/MMBtu from $17.4603/MMBtu during July.
Similarly, the weighted average gas sale price of the SSGCL distribution network has decreased by 2.67pc.
As a result, Ogra has reduced the price of RLNG at the SSGCL network by $0.4792/MMBtu. With a reduction, the rate of RLNG will come down to $17.4783/MMBtu in August 2022 from $17.9575/MMBtu during July.
According to OGRA, Pakistan will import seven LNG cargos in August.
In addition, Pakistan State Oil (PSO) will procure six LNG cargoes under two long-term contracts with Qatar that would reflect in LNG Prices in August 2022.
In addition, Pakistan LNG Limited (PLL) will procure one LNG cargo during August.
The Ogra has computed the average cost of the PSO six cargoes from Qatar at $13.1672/MMBtu, while the cost of the PLL cargo is $13.5040/MMBtu.
Oil and Gas Regulatory Authority (OGRA) reduced the cost of imported re-gasified liquefied natural gas for Sui Southern Gas Company Limited (SSGC) and Sui Northern Gas Pipeline Limited (SNGPL) customers in July by up to 20.57 percent.
The price of RLNG for Sui Northern Gas Pipeline Limited (SNGPL) was reduced by $4.6501/MMBtu, while for the SNGPL, it was decreased by $3.3088/MMBtu.
