OGRA revises RLNG prices for May

KARACHI: The Oil and Gas Regulatory Authority (OGRA) on Friday revised the prices of regasified liquefied natural gas (RLNG) on networks of Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) for the ongoing month of May 2021.

According to a notification issued by the authority, there is a $0.48/mmbtu increase in the sale price of imported RLNG on both SSGC and SNGPL systems for May.

Weighted average sale price worked out in the light of the advice of the Ministry of Energy, the distribution rate of RLNG on SNGPL network is fixed at $10.252/mmbtu, and $9.969/mmbtu for SSGC.

According to OGRA, 38.763mmbtu imported gas was available in the system for distribution in May 2021. Pakistan State Oil (PSO) received seven cargoes at the cost of $10.025/mmbtu, while Pakistan LNG Limited (PLL) secured six LNG cargoes at the rate of $8.163/mmbtu for May distribution.

Pakistan has become one of the top emerging markets for super-chilled fuel in recent years, as domestic gas production has plateaued, forcing the country to import cargoes. Pakistan, which imported its first cargo five years ago, currently has two LNG terminals. Two more LNG terminals, Energas and Mitsubishi’s Tabeer Energy are expected to start in the next few years.