ISLAMABAD: A public hearing was held by the Oil and Gas Regulatory Authority (Ogra) for the review of the petition filed by the Sui Northern Gas Pipelines Limited (SNGPL) (petitioner) in Lahore.

The petition was filed on October 14, 2022 before the Authority under Section 8(2) of the Oil and Gas Regulatory Authority Ordinance, 2002 read with Rule 4(3) of Natural Gas Tariff Rules, 2002 for Review of its Estimated Revenue Requirement / Prescribed Prices for Financial Year 2022-23.

In a statement, the Ogra says that all the stakeholders, consumers and the general public were invited to attend the public hearing and present their points of view over the SNGPL’s petition.

All the stakeholders attended the hearing and presented their points of view.

In the instant petition, the SNGPL has projected a shortfall in revenue requirement at Rs178,814 million, including R.445 million on account of the LPG Air-mix project for the Financial Year 2022-23 seeking an increase in its average prescribed price by Rs488.08 per MMBTU effective July 1, 2022.

The petitioner has also included Rs295,268 million, being shortfall pertaining to previous years, thereby seeking a total increase in average pre-scribed price by Rs1,294.02/MMBTU w.e.f. 1st July 2022. Besides above, the petitioner has estimated RLNG cost of service at Rs1,015.64/MMBTU for 2022-23 including Rs762.44/MMBTU on account of the differential impact of RLNG diversion.

Copyright Business Recorder, 2022