OGRA hikes LNG prices for SNGPL, SSGC consumers again

WEB DESK: The Oil and Gas Regulatory Authority (OGRA) announced a revision in liquefied natural gas (LNG) prices on Friday.

As per the official notification, OGRA has raised the prices of imported re-gasified LNG for both gas utilities, namely Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company Limited (SSGC).

For SNGPL, the price of liquefied gas has experienced an increment of $0.15 per million British thermal units (mmbtu), while consumers of SSGC will see a hike of $0.16 per mmbtu.

The updated LNG price for SNGPL is now set at $13.49 per unit, and for SSGC, the new rate is established at $14.03 per MMBTU, according to the notification.

It’s worth noting that the previous month saw Pakistan enter into a framework agreement with Azerbaijan for the procurement of liquefied natural gas (LNG) under flexible terms.

Read more: Minister promotes use of electric vehicles in Punjab to fight smog

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

During the signing, Sharif highlighted that the agreement’s initial tenure spans one year, with the possibility of extension for an additional year.