Govt increases LNG prices

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Friday notified increase in the prices of liquefied natural gas (LNG), ARY News reported.

According to a notification, OGRA increased the prices of imported re-gasified liquefied natural gas (LNG) for both gas companies, Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC) for the rest of October.

For SNGPL, the price of liquified gas has been increased by $0.15 per mmbtu while for SSGC consumers the rate has been hiked by $0.16 per mmbtu.

According to the notification, the new LNG price for SNGPL has been set at $13.49 per unit while the prices for SSGC have been set at $14.03 per MMBTU.

Last month, Pakistan inked a framework agreement with Azerbaijan for Liquified Natural Gas (LNG) procurement on flexible terms.

The agreement signed between Pakistan LNG Limited and Azeri Company SOCAR in Lahore was witnessed by the then-Prime Minister Shehbaz Sharif.

Shehbaz Sharif said the tenure of this agreement is one year which is extendable to one more year.