OGRA notifies decline in LNG prices for August

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) on Wednesday notified a decline in the prices for imported Liquified Natural Gas (LNG) for the ongoing month of August, ARY News reported.

According to the OGRA notification, the new LNG price for SNGPL has been set at $12.48 per unit while the prices for SSGC have been set at $12.96 per MMBTU.

The LNG price for SNGPL consumers has been reduced by $0.16/mmbtu while for SSGC consumers the rate has been slashed by $0.17/mmbtu

Earlier, the Oil and Gas Regulatory Authority (OGRA) notified an increase of $0.17 per MMBTU in prices for Liquified Natural Gas (LNG) for May. OGRA increased the LNG price for Sui Northern System by $0.16 while the price for the Sui Southern System has been increased by $0.17 for May.

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 Prime Minister Shehbaz Sharif.

PM 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.