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LNG business has no legal cover, claims Ogra official

ISLAMABAD: A top official of the Oil and Gas Regulatory Authority (Ogra) has said that the LNG business worth Rs34 billion carried out so far, which includes import of the product and its sale by PSO, has no legal cover as the LNG price notification does not exist. “We have

By our correspondents
September 03, 2015
ISLAMABAD: A top official of the Oil and Gas Regulatory Authority (Ogra) has said that the LNG business worth Rs34 billion carried out so far, which includes import of the product and its sale by PSO, has no legal cover as the LNG price notification does not exist.
“We have refused to determine the LNG sale price unless we get the LNG import invoices vetted by the Ministry of Petroleum and Natural Resources,” he told The News on Wednesday.
“We will not determine the LNG sale price unless and until PSO provides the full record of LNG import and its sale. If all the business is being done on verbal orders from the central government and no record is given, then the regulator cannot determine the price,” he said.
Ogra has also resisted the government move for an increase in the volume of UFG (unaccounted for gas) by up to 10 percent from the existing 4.5 percent, he said.