RLNG prices cut by 7.8pc for January

ISLAMABAD: The government declared on Thursday a reduction of up to $1.2 per million British thermal units (mmBtu), equivalent to 7.8 percent, in the prices of Re-Gasified Liquefied Natural Gas (RLNG) supplied to Sui Gas companies.

The adjustment, effective from January 1, 2024, marks the first decrease in prices since September 2023.

The Oil and Gas Regulatory Authority (Ogra) has released a notification announcing that the price of RLNG for consumers of Sui Northern Gas Pipelines Limited (SNGPL) has been reduced by $1.122 per mmBtu (or 7.575pc) from the previous month. Similarly, the cost of RLNG for consumers of Sui Southern Gas Company (SSGC) has fallen by $1.207 per mmBtu (or 7.81pc) compared to December 2023 prices. The weighted average sale price for SNGPL consumers has been set at $13.6898 per mmBtu, while SSGC consumers will be charged $14.245 per mmBtu. In December 2023, the RLNG prices set by OGRA were $14.8118 per mmBtu for SNGPL consumers and $15.4524 per mmBtu for SSGC consumers. Ogra said that the decrease in RLNG prices is due to the decrease in DES (delivered ex-ship) price.