RLNG prices raised by 2.68pc for Nov

ISLAMABAD; The federal government has raised the average sale prices of re-gasified liquefied natural gas (RLNG) for consumers of both Sui gas companies by up to 2.68 per cent for November 2024.

In a notification issued by the Oil and Gas Regulatory Authority (OGRA) on Friday, the price hike was attributed to an increase in the delivered ex-ship (DES) price. For consumers of Sui Northern Gas Pipelines Limited (SNGPL), the price has been increased by $0.3216 per million British thermal units (mmBtu), or 2.49 per cent, bringing the new rate to $13.2609/mmBtu. Meanwhile, Sui Southern Gas Company (SSGC) consumers will see an increase of $0.3346/mmBtu, or 2.68 per cent, with the new price set at $12.8005/mmBtu.

The new rates take effect from November 1, 2024, in accordance with the policy guidelines issued by the federal government. The RLNG prices for both SNGPL and SSGC had been reduced in the previous two months — by up to 1.07 per cent in September and 7.11 percent in October. However, the new prices for November are still lower than those recorded in the same month last year, with November 2023 prices at $13.4930/mmBtu for SNGPL and $14.0337/mmBtu for SSGC. The revised RLNG prices also reflect charges related to LNG terminals, transmission losses, port fees, and margins for state-owned importers, Pakistan State Oil and Pakistan LNG Limited. The new rates are based on six LNG cargoes imported by PSO, and one by PLL for November. The price increases come amidst ongoing fluctuations in global LNG markets, with the government continuing to adjust rates in response to changing import costs.