RLNG prices cut by up to $1.28/mmBtu for February

ISLAMABAD: The government Thursday announced a reduction of up to $1.2867 per MMBTU, equivalent to over nine percent, in the prices of re-gasified liquefied natural gas (RLNG) supplied to the Sui Gas companies for February.

The adjustment, effective from February 1, marks the second consecutive monthly decrease in the 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 $1.1976 per MMBTU (or 8.75pc) from the previous month.

Similarly, the cost of RLNG for consumers of Sui Southern Gas Company (SSGC) has also been reduced by $1.2867 per MMBTU (or 9.03pc) compared to January 2024 prices. In January, the prices were reduced by 7.8 percent.

The weighted average sale price for SNGPL consumers has been set at $12.4922 per MMBTU, while the SSGC consumers will be charged $12.9584 per MMBTU.

In January 2024, the RLNG prices set by Ogra were $13.6898 per MMBTU for SNGPL consumers and $14.2451 per MMBTU for SSGC consumers. The Ogra said the decrease in RLNG prices was due to the decrease in DES (delivered ex-ship) price.