ISLAMABAD: The government on Wednesday reduced the prices of regasified liquefied natural gas (RLNG) for both the Sui companies by up to $ 0.1718 per mmbtu (1.31 percent) for the month of August.

According to a notification issued by the Oil and Gas Regulatory Authority, the RLNG price for the Sui Northern Gas Pipelines Limited (SNGPL) consumers has been reduced by $ 0.1608 per mmbtu, while for Sui Southern Gas Company (SSGC) clients, the price has been decreased by $ 0.1718 per mmbtu.

The Ogra issued its determined RLNG weighted average sale provisional price notice and set RLNG prices at $ 12.4885 per mmbtu for the consumers of SNGPL and $ 12.9649 per mmbtu for SSGC consumers.

For the month of July, the price of RLNG was $ 12.6493/mmbtu for the consumers of SNGPL and $ 13.1367/mmbtu for SSGC consumers.

The newly-notified prices of RLNG also include charges of the LNG terminals, transmission losses, port charges, and margins of the state-run importers—Pakistan State Oil (PSO) and Pakistan LNG Limited (PLL). These new weighted average sale prices of RLNG have been computed based on eight cargoes imported by PSO, while PLL imported one cargo of this super-chilled gas. Under two long-term contracts with Qatar, PSO is procuring LNG at 13.37 percent of Brent and 10.20 percent of Brent respectively. Six cargos were procured at a slope of 13.37 percent of Brent while three at 10.2 percent and one at spot purchase.

Copyright Business Recorder, 2023