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January 8, 2019

OGRA reduces RLNG prices

Business

January 8, 2019

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has reduced the prices of re-gasified liquefied natural gas (RLNG) for the consumers of Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company for January 2019.

According to a notification, prices for SNGPL consumers have been fixed at $11.038/million British thermal units (mmbtu) and for the consumers of Sui Southern Gas Company (SSGC) at $11.3726/mmbtu. For December 2018, the price was $12.2987/mmbtu for SNGPL and $12.7125/mmbtu for SSGCL consumers.

The new notified prices for January 2019 have been reduced by 10.25 percent (or $1.2607/mmbtu) for SNGPL and 10.54 percent (or 1.339/mmbtu) for SSGC as compared to prices in December 2018. Last month for December 2018 too, the government had reduced the RLNG prices for SNGPL consumers by 3.38 percent to $12.2987/mmbtu and for SSGC it was cut by 3.327 percent to $12.7125/mmbtu.

This super-cooled gas price is pegged with the crude oil prices and was expected that due to decline in international oil prices the local RLNG consumers would get a sizeable decline.

These prices also include charges of the LNG terminals, transmission losses, port charges and margins of the importers, ie, Pakistan State Oil (PSO) and Pakistan LNG Limited.

These new RLNG weighted average sale prices for January 2019 have been computed, based on the 10 cargoes imported during the month, of which six were imported by Pakistan State Oil and four by Pakistan LNG Limited.

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