ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has again notified the provisional prices of RLNG for the month of August. Earlier, it had withdrawn the notification of RLNG prices following criticism for costlier purchase of the imported fuel by Pakistan State Oil (PSO) at $20 per mmbtu.

In a tweet, on Friday, the PSO states retender done for the procurement of LNG for the delivery period August 29-30, 2021 (after scrapping the initial tender on July 27, 2021 due to high rates) was opened on Friday.

The bid received translates into $15.9271 per mmbtu, which is very competitive with current market rates.

The PSO further says it has saved the national exchequer Rs 2.1 billion.

The government has further increased the price of Re-liquefied Natural Gas (RLNG) by 2.33 percent for the consumers of the Sui Northern Gas Pipeline Company Limited (SNGPL) and 2.5 percent for the Sui Southern Gas Company Limited (SSGC) for the month of August.

The regulator increased the provisional price of RLNG for the consumers of both gas companies and jacked up the rates for the consumers of the SNGPL by $0.3015 per mmbtu or 2.33 percent, while for the consumers of SSGC, it has been increased by $0.3163 per mmbtu or 2.5 percent, said a notification.

After the increase, the price of RLNG went up from $12.9160 per mmbtu in July to 13.2175 per mmbtu in August for the consumers of the SNGPL.

The price of RLNG for the consumers of the SSGCL was also increased as compared with the previous month of July.

Copyright Business Recorder, 2021