OGRA notifies increase in LNG prices

ISLAMABAD: Following a hike in prices of petroleum products, the Oil and Gas Regulatory Authority (OGRA) on Tuesday notified increase in the prices of liquefied natural gas (LNG), ARY News reported.

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

For SNGPL, the price of liquified gas has been increased by $0.35 per mmbtu while for SSGC consumers the rate has been hiked by $0.40 per mmbtu.

The new LNG price for SNGPL has been set at $12.83 per unit while the prices for SSGC have been set at $13.36 per MMBTU.

Read more: Pakistan inks framework agreement with Azerbaijan for LNG procurement

It is pertinent to mention here that 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.

He said under the agreement, Azerbaijan will offer one Cargo of LNG each month and it will be up to Pakistan to either accept the cargo or not. He said there will be no financial penalty if Pakistan does not accept the cargo.