ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Tuesday announced a 3.20 percent increase in the price of Regasified Liquefied Natural Gas (RLNG) for August 2024 on a month-to-month basis, reflecting the latest changes in global energy markets.

The new rates, effective with August 1, 2024 have been detailed in an official notification issued by Ogra for RLNG consumers.

For customers of the Sui Northern Gas Pipeline Limited (SNGPL) the price of RLNG has been raised by 2.97 percent, translating to an increase of 40 cents per million British thermal units (mmbtu). This brings the new price to $14 per mmbtu for August.

The Sui Southern Gas Company (SSGC) will also observe a raise of 42 cents per mmbtu, resulting in a new price of $13.57 per mmbtu.

The notification from Ogra has been met with mixed reactions from industry stakeholders, as the hike in RLNG prices could potentially affect various sectors reliant on natural gas.

However, the increase was deemed necessary by the regulatory body to align with international market trends.

Copyright Business Recorder, 2024